KARACHI: KARACHI: The Pakistan Stock Exchange (PSX), which began Monday’s trading on a hopeful note, with early gains across benchmark indices suggesting investor confidence, appeared to have lost momentum as sentiment soured and the market slipped into the red, reflecting renewed caution among participants.
At 11:45am, the KSE-100 index had plunged 2,602 points, or 1.76 per cent, to 147,796.07.
The broader All-Share Index fell 1.47pc, while the KSE-30 dropped 2.13pc. The KMI-30 and BKTI indices also recorded declines of 1.38pc and 3.46pc respectively. Trading activity remained brisk, with over 133 million shares changing hands in 125,169 transactions, valued at Rs9.06 billion. Market breadth turned negative: 159 scrips advanced, while 278 declined and 128 remained unchanged.
Analysts said the upbeat start was overshadowed by a “fear factor” as investors weighed global uncertainties and domestic pressures. Despite a worldwide surge in oil prices following US President Donald Trump’s Tuesday deadline for Iran to reopen the Strait of Hormuz, local equities failed to sustain momentum. Dealers pointed to profit-taking and risk aversion as the dominant themes of the session.
Adding to the nervousness were looming external obligations.
Pakistan is set to repay billions of dollars to the United Arab Emirates and meet upcoming Eurobond maturity payments, raising concerns about foreign exchange reserves. Meanwhile, the International Monetary Fund (IMF) has asked Pakistan to loosen its grip on the rupee and review interest rates — measures expected to be implemented soon. Traders said these policy shifts, coupled with repayment pressures, weighed heavily on sentiment.
The reversal underscores the fragile confidence at the bourse, where early optimism gave way to caution amid geopolitical risks, repayment deadlines, and anticipated monetary adjustments. Market watchers warned that volatility may persist until clarity emerges on both global energy markets and domestic economic management.
https://archive.mmnews.tv/psx-open-firm-despite-global-oil-jitters/
