Broad-based selling keeps KSE-100 index firmly in red as banks, energy, cement and auto stocks lead losses
The Pakistan Stock Exchange (PSX) remained under intense selling pressure on Monday as investors reacted to rising geopolitical concerns, dragging the benchmark KSE-100 index sharply lower during intraday trade.
The market opened in the red and extended losses throughout the session, reflecting cautious investor sentiment. By 9:44am, the KSE-100 Index had slipped 1,957.57 points, or 1.15%, to 168,521.37.
Selling was broad-based, with major sectors bearing the brunt of the downturn. Shares of automobile assemblers, cement manufacturers, commercial banks, oil and gas exploration firms, oil marketing companies (OMCs), power producers and refineries traded lower as investors opted to reduce exposure amid heightened uncertainty.
As trading progressed, the benchmark index recovered part of its losses but remained firmly negative. As of 1:00pm, when this report was filed and trading was still underway, the KSE-100 index was down 1,486.32 points, or 0.87%, at 168,992.62. The session's intraday high stood at 169,360.54, while the low was recorded at 168,432.45.
Market participation remained robust, with more than 82.47 million shares changing hands, generating a traded value of Rs7.47 billion. The index had settled at 170,478.94 in the previous session.
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