PSX tumbles 1,525 points amid geopolitical jitters

Broad-based selling across key sectors drags the KSE-100 lower as investor sentiment weakens activity

The Pakistan Stock Exchange (PSX) came under sustained selling pressure on Monday as rising geopolitical concerns prompted investors to offload positions. dragging the benchmark KSE-100 index sharply lower during intra-day trade.

The benchmark KSE-100 index lost 1,525.24 points, or 0.89%, to settle at 168,953.71, after a volatile session that saw the market swing sharply between losses. a brief recovery attempt. The index fell to an intra-day low of 168,432.46 during early trade before rebounding to a session high of 169,360.55. However, the recovery lacked momentum, with renewed selling pressure pulling the benchmark back into deeper negative territory by the close.

Investor sentiment remained subdued, triggering broad-based selling across major sectors. Commercial banks, oil. gas exploration companies, oil marketing firms, cement manufacturers, automobile assemblers, power producers and refinery stocks all closed lower.

Market participants largely adopted a cautious stance as uncertainty surrounding the geopolitical environment continued to cloud the near-term outlook, keeping pressure on equities. limiting fresh buying interest.

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Topline Securities wrote that the local bourse witnessed a choppy trading session on Monday. mirroring weakness across international equity markets as escalating geopolitical tensions dampened investor sentiment.

The benchmark index remained under pressure throughout the session. plunging to an intra-day low of 2,046 points before settling at 168,953 level, down 1,525 points or 0.89%. The negative momentum largely tracked global market trends amid heightened geopolitical uncertainty, driven by violations of the ceasefire. renewed attacks, which reignited concerns across financial markets and kept investor risk appetite subdued.

On the index contribution front, heavyweight stocks remained under pressure, with United Bank, Engro Holdings, Fauji Fertiliser, Habib Bank, Hub Power,. Pakistan Petroleum collectively eroding approximately 561 points from the benchmark index. Market participation declined compared to the previous session. with total traded volume clocking in at 657 million shares, while traded value stood at Rs22.5 billion, Topline added.

Cumulatively, trading volume decreased to 657.9million from the previous close of 70.7million. The value of traded shares stood at Rs22.5billion. In the ready market, shares of 494 companies were traded. Of these, 116 stocks closed higher, 336 fell, and 42 remained unchanged. TPL Properties was the volume leader with trading in 60.5million shares, rising Rs0.95 to close at Rs10.28.

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