KSE-100 slips 200 points amid range-bound trading

The Pakistan Stock Exchange (PSX) observed a range-bound trading session on Monday, as the benchmark KSE-100 Index closed marginally lower, reflecting cautious investor participation amid selective buying.

Throughout the trading session, mixed sector-wise movements were seen, as some stocks attracted buying interest while others faced profit-taking, keeping the benchmark largely confined within a narrow band for most of the day.

At close, the benchmark index settled at 171,204 points, down 200 points or 0.12%.

Positive contributions from LUCK, ENGROH, FATIMA, RMPL, and SRVI added a combined 347 points to the index. However, losses in HBL, UBL, and FFC limited gains, collectively dragging the benchmark down by 225 point, brokerage house Topline Securities said in its post-market report.

On Monday, gold prices in Pakistan increased massively, in line with their gain in the international market. In the local market, the gold price per tola reached Rs462,362, a new all-time high, after an increase of Rs6,200 during the day.

Moreover, silver price also climbed new peaks, surging by Rs218 to clock in at Rs7,205 per tola.

During the previous week, Pakistan’s equity market extended its upward trajectory with the benchmark KSE-100 Index closing at 171,404 points, up 0.91% week-on-week, as a surprise policy rate cut, improving external buffers, and sustained strength in banking stocks helped offset softer trading volumes and selective profit-taking.

Internationally, Asian share markets rose on Monday, tracking tech-driven gains on Wall Street, while the yen wallowed at all-time lows against the euro and Swiss franc as higher interest rates at home did nothing to deter speculative sellers.

Turnover was sparse in what is a holiday-shortened week for much of the world, but the path of least resistance was higher ahead of delayed data that is forecast to show the U.S. economy had continued to grow strongly in the third quarter.

Median forecasts tip annualised growth of 3.2%, due in part to a sharp pullback in imports after a run-up earlier in the year ahead of the introduction of tariffs.

Japan’s Nikkei climbed 1.5%, extending Friday’s bounce as a steep decline in the yen promised to boost export earnings for Japanese corporates.

MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.3%, while South Korea jumped 1.8% on optimism over AI-related earnings.

Volume on the all-share index decreased to 684.55 million from 797.53 million recorded in the previous close. The value of shares declined to Rs30.1 billion from Rs42.22 billion in the previous session.

K-Electric Ltd was the volume leader with 112.70 million shares, followed by TPL REIT Fund I with 49.33 million shares, and PIA Holding Company with 29.33 million shares.

Shares of 486 companies were traded on Monday, of which 143 registered an increase, 288 recorded a fall, and 55 remained unchanged.