KSE-100 Index Slips 1,356 Points Amid Profit-Taking; Closes at 149,235

The Pakistan Stock Exchange (PSX) witnessed a volatile session on Monday, as the KSE-100 Index lost early momentum and came under profit-taking pressure, closing the day 1,356 points lower at 149,235.

The benchmark index opened on a strong footing and even crossed the 151,000 milestone, touching an intraday high of 151,250. However, the gains could not be sustained, and a wave of selling dragged the market to an intraday low of 148,273 before settling in the red.

Overall market participation remained healthy, with 425.8 million shares traded, reflecting a total turnover of PKR 39.1 billion.

Key Contributors to the Decline

Heavyweight stocks in the banking and fertilizer space were the major drags on the index.

·        Meezan Bank (MEBL) dropped 3%, eroding 191 points.

·        Habib Bank (HBL) slipped 2.6%, taking away 139 points.

·        Engro Holdings (ENGROH) fell 1.6%, costing 112 points.

·        Bank AL Habib (BAHL) and MCB Bank declined 1.8% and 1.9%, contributing 100 points and 97 points, respectively.

Volume Leaders

Activity was concentrated in mid-tier names, with PAEL (57.2 million shares) and PIBTL (56.5 million shares) topping the volume charts.

Sector-Wise Performance

·        Banking and OMCs: Faced heavy profit-taking after recent rallies.

·        Cement Sector: Witnessed mixed sentiment, with selective names holding ground.

·        E&P and Pharmaceuticals: Attracted buying interest, cushioning broader losses.

Market Outlook

Analysts note that despite crossing the 151,000 level, the market’s sharp reversal signals heightened volatility in the near term. However, the broader outlook remains constructive, supported by improving macros, corporate earnings momentum, and investor confidence.

Market watchers advise investors to remain focused on fundamentally strong sectors such as Exploration & Production (E&Ps), Oil Marketing Companies (OMCs), Fertilizers, and Banks, which continue to offer attractive dividend yields and long-term growth potential.