Investors’ cautious stance kept the benchmark tight, reflecting a wait-and-see approach before clearer incentives
Revision of CGT structure, increase in tax rates will hurt trading volume on PSX. PHOTO: AFP
The Pakistan Stock Exchange ended the session on a subdued note on Monday, with the KSE-100 index ending slightly in the red as investor sentiment remained cautious in the absence of strong drivers to lead to a decisive move.
Trading activity remained largely range-bound, with the index hitting a one-day high of 172,167 and a low of 170,859, suggesting a lack of strong directional conviction. Participants appeared selective, choosing positions on specific stocks rather than broad-based exposure.
Sector performance was mixed throughout the session. While selling pressure was largely seen in banking, fertilizers, energy, cement and power sectors, some stocks such as investment and food sectors managed to attract buying interest.
Overall, cautious investor sentiment kept the benchmark tight, reflecting a wait-and-see approach before clearer incentives. The bourse then closed at 171,204, down 200 points (0.12%), after trading in a narrow intraday range at 171,204.18.
In market wrap, KTrade Securities noted that the PSX started the renewal week on a subdued note, with limited range trading and relatively low volumes on the regular counter. The KSE-100 fell 200 points, -0.12% daily (DoD) to close at 171,204.
Among major chips, selling pressure was seen in Habib Bank, United Bank, Fauji Fertiliser, Pakistan State Oil, Cherat Cement and Hub Power, while selective support came from Lucky Cement, Engro Holdings, Fatima Fertiliser and Rafhan Maize Products.
Despite the marginal drop, market participation remained reasonable, with all-stock volumes recorded at 682 million shares, indicating adequate liquidity and continued investor interest. Looking ahead, the broader market outlook remains constructive due to improving macroeconomic conditions following the State Bank of Pakistan (SBP) rate cut.
However, with conversion activity underway amid a shortened trading week, market participants are expected to remain cautious in the near term, KTrade predicted.
Total trading volume fell to 684.5 million shares from the previous session’s tally of 797.5 million. The value of traded shares was Rs 30.1 billion. Shares of 486 companies were traded. Of these, 143 rose, 288 fell and 55 remained unchanged. K-Electric was the volume leader with 112.7 million shares traded, up Rs 0.25 to close at Rs 6.10.
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