ISLAMABAD: The Pakistan Stock Exchange (PSX) observed a volatile session on Monday with the benchmark KSE-100 Index swinging on both sides before settling with a loss of nearly 400 points.
The market opened positively, pushing the benchmark index to an intraday high of 139,201.15. However, profit-taking emerged later in the session, pulling the KSE-100 down to an intraday low of 138,149.56.
By the close, the KSE-100 Index settled at 138,217.58, marking a decline of 379.78 points, or 0.27%.
On Monday, a total of 608,186,190 shares were traded during the day as compared to 608,725,273 shares the previous trading day, whereas the price of shares stood at PKR 23.523 billion against PKR 31.588 billion on the last trading day.
As many as 479 companies transacted their shares in the stock market, 193 of them recorded gains and 245 met losses, whereas the share price of 41 companies remained unchanged.
Last week, the Pakistan Stock Exchange (PSX) closed at a historic high, driven by investors’ optimism, strong macroeconomic indicators, and expectations of solid corporate earnings.
The benchmark KSE-100 Index surged to an all-time closing high of 138,597 points, posting a weekly gain of 3.2%, or 4,297 points — the largest weekly increase in its trading history.
On the global front, Asian shares and the yen remained steady on Monday following Japanese elections that were unfavourable for the government but in line with market expectations. Meanwhile, Wall Street futures braced for earnings from the first of the tech giants.
Investors are also hopeful for progress in trade negotiations ahead of President Donald Trump’s August 1 tariff deadline. US Commerce Secretary Howard Lutnick expressed confidence that a deal could be reached with the European Union.
Reports suggest that Trump and Chinese President Xi Jinping are moving closer to arranging a meeting, though it is unlikely to take place before October.
In Japan, the ruling coalition lost control of the upper house in Sunday’s election, further weakening Prime Minister Shigeru Ishiba’s hold on power as the tariff deadline approaches.
