PSX closes lower after crossing 76,000 mark

KARACHI: The Pakistan Stock Exchange (PSX) witnessed significant selling pressure on Monday, causing the benchmark KSE-100 index to fall after briefly crossing the 76,000 mark during the day.

By the end of the trading session, the KSE-100 index had dropped to 75,575.26, marking a decline of 303.22 points, or 0.4 per cent. The index fluctuated within a range of 714.59 points, reaching an intraday high of 76,209.97 points (+331.49) and a low of 75,495.38 points (-383.09).

The total volume of shares traded on the KSE-100 index amounted to 190.98 million. Out of the 100 companies listed on the index, 45 saw their share prices rise, 51 experienced declines, two remained unchanged, and two did not trade.

Several sectors contributed to the downward pressure on the index. Leading the decline were commercial banks, which accounted for a loss of 159.46 points, followed by fertiliser (-121.19 points), oil and gas exploration companies (-43.61 points), power generation and distribution (-24.66 points), and engineering (-20.68 points).

Conversely, the index found support from gains in the cement sector, which added 27.37 points, automobile assembly (25.86 points), technology and communication (15.21 points), leather and tanneries (10.13 points), and miscellaneous sectors (7.6 points).

Among the individual companies, those that dragged the index lower included Systems Limited (SYS) with a loss of 59.57 points, Fauji Fertiliser Company (FFC) (-45.88 points), Meezan Bank Limited (MEBL) (-42.62 points), Engro Fertilisers (EFERT) (-35.95 points), and Engro Corporation (ENGRO) (-35.01 points).

On the positive side, TRG Pakistan Limited (TRG) added 61.36 points to the index, followed by Millat Tractors Limited (MTL) (+22.42 points), Pakistan Oilfields Limited (POL) (+12.32 points), Nestlé Pakistan Limited (NESTLE) (+11.16 points), and Avanceon Limited (AVN) (+10.78 points).

The trading session highlighted the volatility in the market, with substantial intraday movements reflecting investor sentiment and sector-specific performance.

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