KARACHI – Pakistan Stock Exchange (PSX) started Monday’s trading session on a bearish note, with the benchmark KSE-100 index extending its losses as investors remained cautious amid economic and geopolitical uncertainty.
The benchmark index was trading at 166,169.41 points at 9:34am, down 239.84 points or 0.14% from its previous close. Selling pressure intensified during the morning, pushing the index down to 165,776.85 points by 12:29pm, representing a decline of 632.40 points or 0.38%.
The index had closed at 166,409.25 points on Friday.
During Monday’s session, the benchmark touched an intraday high of 166,581.95 points and a low of 165,601.22 points, highlighting continued fluctuations in market sentiment. Trading volume reached 101.08 million shares, with the total traded value standing at Rs6.31 billion.
The decline came despite some improvement in the international outlook, as crude oil prices eased on renewed diplomatic efforts to contain the conflict involving the United States, Israel and Iran. Reports of continued discussions between Iranian and Qatari officials, along with the absence of major military escalation over the weekend, helped reduce immediate concerns about disruptions to regional energy supplies.
However, the improvement in global sentiment failed to encourage substantial buying at the local exchange, where investors remained reluctant to take fresh positions.
The latest downturn followed Friday’s loss of 784.19 points, or 0.47%, which ended the market’s four-session recovery. Investors had resorted to profit-taking amid concerns over oil prices, developments around the Strait of Hormuz and uncertainty surrounding the Middle East situation.
The market also faced considerable pressure throughout October, when the KSE-100 index shed approximately 3,560 points, or 2.1%. Geopolitical developments, foreign portfolio outflows and selling in heavyweight stocks contributed to the decline.
Although the benchmark recovered more than 4,800 points during the final week of October and briefly crossed the 167,000-point mark, it struggled to sustain the gains.
Domestic monetary policy has also remained a key concern for investors. The State Bank of Pakistan raised its policy rate by 50 basis points to 12% on October 26, citing energy price pressures and geopolitical uncertainty.
