An analyst at Topline Securities said KSE-100 shares index traded under sustained pressure.
KARACHI: Pakistan Stock Exchange (PSX) benchmark index closed lower by 3,791 points, or 2.29%, settling at 161,805 points on Monday, as a lack of progress in diplomatic talks and fresh uncertainty over U.S.-Iran tensions fueled a highly volatile session.
An analyst at Topline Securities said KSE-100 shares index traded under sustained pressure throughout a highly volatile session, as investor sentiment remained cautious amid the lack of meaningful progress in ongoing negotiations and continued uncertainty surrounding developments between the United States and Iran.
“Elevated crude oil prices further weighed on market confidence. During the session, the index experienced pronounced intraday volatility, hitting a low of 3,982 points.”
An analyst at Ismail Iqbal Securities said the stock market closed on a sharp negative note, gradually shedding points throughout the session, as investors remained cautious amid the risk of renewed geopolitical tensions and rising oil prices.
Heavyweight stocks, including Oil & Gas Development Company (OGDC), Meezan Bank (MEBL), United Bank (UBL), Pakistan Petroleum Limited (PPL), and ENGRO stayed under selling pressure, collectively contributing 1,159 points to the index’s decline.
More read, PSX sinks 3.23% as KSE-100 loses over 5,500 points in bearish week
Overall market activity remained healthy, with total traded volume clocking in at 499.8 million shares, while market turnover stood at Rs19.4 billion.
