Pakistan Stock Exchange Struggles Below 166,000 Amid Ongoing Selling Pressure

KARACHI: The Pakistan Stock Exchange (PSX) commenced the week on a low note, with the KSE-100 index closing at 165,966, down 453 points or 0.27%. This decline reflects a cautious investor sentiment amid ongoing regional and political turmoil.

Topline Securities Ltd noted that the market’s directionless nature is largely attributed to the absence of positive triggers, elevated international oil prices, and political instability in Khyber Pakhtunkhwa. Major laggards included United Bank, Engro Holdings, Systems Ltd, Hub Power, and Sazgar Engineering Works, which collectively contributed to a 273-point drop in the benchmark index.

The subdued investor participation is evident as trading volume fell to 370 million shares, although turnover increased to Rs19.5 billion, with Pakistan Refinery leading the volume chart at 52 million shares. Ali Najib, deputy head of trading at Arif Habib Ltd, described the session as lacklustre, driven by jittery market conditions.

Looking ahead, analysts suggest that the PSX will continue to face challenges unless significant positive developments occur, particularly regarding political stability and oil price fluctuations. Investors are advised to remain vigilant as the market navigates these turbulent conditions.