The Pakistan Stock Exchange (PSX) began the week on a negative note Monday, with the benchmark KSE-100 Index plunging over 1,100 points as investors adopted a cautious stance ahead of the Monetary Policy Committee (MPC) meeting scheduled for later in the day.
By the close of trading, the KSE-100 Index settled at 162,163.81, down by 1,140.32 points or 0.7%.
Selling pressure was broad-based, hitting major sectors including cement, commercial banks, fertilizer, oil and gas exploration, power generation, and refineries. Heavyweight stocks such as HUBCO, ARL, MARI, OGDC, PPL, POL, PSO, HBL, MCB, and MEBL all ended in negative territory.
The market’s weak start followed a subdued performance last week, when early optimism over easing geopolitical tensions faded amid profit-taking, disappointing bank results, and caution ahead of the futures rollover week. The KSE-100 had declined 0.3% week-on-week to close at 163,304 points.
Meanwhile, the Pakistani rupee edged higher against the US dollar in early interbank trading, appreciating by 0.09%. At around 9:50 a.m., the local currency stood at 280.76, up by Re0.26 against the greenback.
