RECORDER REPORT

KARACHI: The Pakistan Stock Exchange (PSX) remained under sustained pressure on Monday as the onset of the roll-over week dampened investor sentiment, resulting in a volatile yet predominantly bearish trading session.

The benchmark KSE-100 Index shed 200.31 points, or 0.12 percent, to settle at 171,204.18 points. The index touched an intraday high of 172,167.63 points before slipping to a low of 170,858.66 points, reflecting persistent intraday volatility.

Meanwhile, the BR indices reflected the broader bearish tone of the market. On Monday, the BRIndex100 closed at 18,117.86 points, registering a decline of 147.66 points, or 0.81 percent, compared to the previous close, with a total trading volume of 458.99 million shares. Similarly, the BRIndex30 fell by 709.84 points, or 1.20 percent, to close at 58,365.72 points, while total volume on the index stood at 304.76 million shares.

Ali Najib, Deputy Head of Trading at Arif Habib Limited, observed that the market opened the roll-over week on a lacklustre note, with the index remaining range-bound for most of the session. He noted that sentiment stayed weak and directionless, a typical feature of early roll-over periods, as participants refrained from taking aggressive positions.

According to Ali Najib, stocks including LUCK, ENGROH, FATIMA, RMPL, and SRVI collectively contributed 347 points to the benchmark index. However, this positive impact was largely offset by declines in HBL, UBL, FFC, PSO, and CHCC, which together shaved off 298 points, keeping the index under pressure.

Market breadth remained decisively negative, highlighting the cautious undertone. In the ready market, 288 companies closed lower, 143 advanced, and 55 remained unchanged.

Total market capitalization declined by over Rs21 billion, settling at approximately Rs19.43 trillion by the end of the session.

Trading activity in the regular market remained subdued, with total turnover standing at 684.55 million shares and traded value at Rs30.10 billion, reflecting reduced risk appetite.

K-Electric Limited dominated the volume chart, with 112.70 million shares changing hands, closing at Rs6.10, as interest in low-priced stocks continued to attract short-term traders.

On the price movers’ front, Rafhan Maize Products Limited led the gainers, surging by Rs1,121.13 to close at Rs12,332.40, followed by Unilever Pakistan Foods, which rose by Rs305 to end at Rs29,160. On the downside, PIA Holding Company Limited (B) recorded a steep decline of Rs885.49, closing at Rs22,250.01, while Khyber Textile Mills fell by Rs73.75 to settle at Rs1,710.25.

Sector-wise performance on the BR indices remained mixed, though most sectors ended the session in negative territory. The BR Automobile Assembler Index closed at 24,064.84 points, down 27.28 points, or 0.11 percent, with a total turnover of 1.48 million shares. The BR Cement Index settled at 14,309.92 points, declining by 14.07 points, or 0.10 percent, on a volume of 40.69 million shares.

The BR Commercial Banks Index witnessed a sharper decline, closing at 51,206.43 points, down 484.33 points, or 0.94 percent, with turnover of 48.34 million shares, as continued selling pressure weighed on major banking names. In contrast, the BR Power Generation and Distribution Index ended the session in positive territory, rising by 57.48 points, or 0.21 percent, to close at 27,685.38 points, while recording a comparatively healthy turnover of 159.54 million shares.

Meanwhile, the BR Oil and Gas Index closed at 14,375.92 points, posting a decline of 221.77 points, or 1.52 percent, with total turnover of 35.52 million shares, reflecting profit-taking in key energy stocks. The BR Technology and Communication Index also ended lower, falling by 44.42 points, or 1.06 percent, to close at 4,126.81 points, with a turnover of 59.71 million shares.

Looking ahead, market participants expect subdued activity to persist as the roll-over week progresses, with investors likely to remain cautious amid routine selling pressure and limited immediate catalysts. Najib emphasized that the 170,000-point level remains a critical technical support for the KSE-100 Index, cautioning that a decisive break below this threshold could signal the onset of a broader consolidation phase.