The Pakistan Stock Exchange (PSX) saw a volatile session on Monday, with the KSE-100 Index ending 205 points lower. The index initially rose to an intra-day high of 79,014.68 but fell to an intraday low of 78,240.36 due to profit-taking, settling at 78,283.29—a decline of 0.26% or 204.92 points.
Ahsan Mehanti from Arif Habib Corporation noted that the drop was driven by economic uncertainty and concerns about ongoing regulatory scrutiny on share trading. Despite some mid-session support from positive CPI inflation data for August at 9.6% year-on-year, political noise and uncertainties regarding IMF approvals for a power tariff cut and a Rs2.8 trillion funding plan contributed to the bearish trend.
Topline Securities reported that market movements were influenced by both bullish and bearish forces, but ultimately, the bears prevailed. Profit-taking was observed in selective stocks, particularly in banking, fertilizer, auto, and steel sectors.
Stocks such as MCB Bank Limited (MCB), Habib Bank Limited (HBL), Engro Corporation (ENGRO), Millat Tractors Limited (MTL), and International Industries Limited (INIL) collectively lost 410 points. Conversely, Hub Power Company Limited (HUBC), Mari Petroleum Company Limited (MARI), and Bank AL Habib Limited (BAHL) added 326 points due to renewed buying interest.
Trading volume exceeded 456 million shares with a total value of Rs15.8 billion. Hascol Petroleum Limited (HASCOL) led in volume with over 46 million shares traded. The benchmark index had a bearish end to the previous week, with market sentiment negatively impacted by security concerns and delays in the IMF executive board’s approval for the $7 billion bailout package.
