KARACHI: The Pakistan Stock Exchange (PSX) witnessed a sharp bout of volatility on Monday as the benchmark index retreated from record territory, with investors resorting to profit taking amid heightened caution ahead of the Monetary Policy Committee (MPC) meeting scheduled later in the evening.
The KSE-100 Index declined by 579.17 points, or 0.31 percent, to close at 188,587.66, after touching an intraday high of 191,032.73 points and a low of 188,268.39 points. The wide trading range reflected choppy conditions, with sentiment swinging between optimism and caution as investors weighed recent gains against macroeconomic uncertainty.
On Monday, the BRIndex100 closed at 20,465.30, marking a decline of 104.46 points, or 0.51 percent, from the previous session. Total turnover on the index stood at 705.59 million shares. The BRIndex30 also ended in negative territory. It settled at 63,848.46, down 212.76 points, or 0.33 percent, from the previous close. Trading volume on the index amounted to 490.38 million shares.
According to Topline Market Review, volatility took centre stage as the market opened on a firm note but lost direction in the second half, when sentiment turned cautious and investors moved to lock in recent gains. The brokerage said the choppy trading pattern was largely driven by uncertainty ahead of the MPC policy decision, which kept many participants on the sidelines and intensified intraday swings.
Topline also highlighted corporate developments that influenced sentiment. Mari Petroleum Company Limited (MARI) from the exploration and production sector announced its 1HFY26 financial results, reporting an EPS of Rs23.89 per share, which fell short of market expectations due to higher-than-anticipated operating and exploration costs. The company also declared an interim cash dividend of Rs8.30 per share for 2QFY26, though the announcement failed to lift broader market confidence.
On the index contribution front, Topline noted that Systems Limited (SYS), Sazgar Engineering Works (SAZEW), and Millat Tractors Limited (MTL) collectively added 305 points to the benchmark, providing some support. However, this was outweighed by heavy selling in Meezan Bank Limited (MEBL), Engro Holdings (ENGROH), Pioneer Cement (PIOC), Fatima Fertilizer (FATIMA), and Lucky Cement (LUCK), which together shaved 553 points off the index, reinforcing the overall bearish tone.
The market’s decline resulted in a contraction in investor wealth, as total market capitalization fell by Rs57.58 billion to Rs21.161 trillion from Rs21.22 trillion in the previous session.
Trading activity in the Ready Market softened slightly, with total turnover declining to 870.45 million shares from 877.56 million shares previously. The value of shares traded eased to Rs57.19 billion, compared with Rs58.59 billion a day earlier.
Market breadth remained decisively negative. In the Ready Market, 298 stocks closed lower, 143 advanced, and 46 remained unchanged out of 487 traded issues.
Trading was concentrated in low-priced and energy-related stocks. K-Electric led volumes with 172.83 million shares, closing at Rs6.97. WorldCall Telecom followed with 37.15 million shares, closing at Rs1.71, while Pakistan International Bulk Terminal recorded 28.99 million shares, ending at Rs20.90. Other actively traded stocks included Bank Makramah, Bank of Punjab, Arif Habib Corporation, Hascol Petroleum, Fauji Cement, Zarea Limited, and Cnergyico, reflecting broad-based participation.
On the gainers’ board, Nestlé Pakistan rose by Rs206.12 to Rs7,970.64, while Sazgar Engineering Works climbed Rs195.36 to Rs2,149. Conversely, PIA Holding Company declined Rs306.67 to Rs21,003.33, followed by Unilever Pakistan Foods, which shed Rs299.77 to Rs27,600.23.
The BR Automobile Assembler Index closed at 27,355.10 points, posting a strong gain of 815.10 points, or 3.07 percent, with a total turnover of 3.84 million shares. In contrast, the BR Cement Index slipped 95.17 points, or 0.68 percent, to close at 13,868.79 points, on a turnover of 69.64 million shares.
The BR Commercial Banks Index also ended lower, closing at 57,650.24 points, down 152.53 points, or 0.26 percent, with a total volume of 68.88 million shares. The BR Power Generation and Distribution Index declined by 198.12 points, or 0.66 percent, to close at 29,945.85 points, as 201.23 million shares changed hands.
The BR Oil and Gas Index closed at 16,284.40 points, down 122.34 points, or 0.75 percent, with a trading volume of 45.28 million shares. On the upside, the BR Technology and Communication Index advanced by 43.93 points, or 1.05 percent, to settle at 4,227.73 points, supported by a turnover of 110.46 million shares.
Overall, the session underscored a cooling phase after the market’s historic rally, as investors balanced profit taking with caution ahead of the MPC decision. Despite the decline, strong futures activity suggested that investor interest remained intact, though near-term sentiment remained fragile.
Copyright Business Recorder, 2026