RECORDER REPORT
KARACHI: The Pakistan Stock Exchange (PSX) closed lower in a range-bound session on Monday as investor sentiment remained fragile amid heightened Middle East geopolitical uncertainty following media reports that US President Donald Trump had rejected an Iranian ceasefire proposal concerning the Strait of Hormuz.
The benchmark KSE-100 Index declined 339.60 points, or 0.20 percent, to close at 170,425.62 points against Friday’s close of 170,765.22 points. The index remained volatile during the session, touching an intraday high of 171,126.52 points and a low of 170,120.50 points before settling at the closing level.
The BRIndex100 closed at 18,770.90 points, down 34.51 points, or 0.18 percent, from the previous close of 18,805.41 points, with total turnover of 299.960 million shares. The BRIndex30, in contrast, gained 115.30 points, or 0.17 percent, to close at 68,233.94 points against 68,118.64 points previously, with total turnover of 171.966 million shares.
According to Ali Najib, Deputy Head of Trading at Arif Habib Limited, the market witnessed another range-bound session as persistent geopolitical uncertainty kept investors cautious. He said sentiment remained fragile following media reports that US President Donald Trump had rejected an Iranian ceasefire proposal regarding the Strait of Hormuz, while declining to comment on potential post-midterm military actions.
Najib said the index was supported by positive momentum in TRG, FFC, OGDC, ATRL and HUBC, which collectively contributed 264 points. This support, however, was more than offset by selling pressure in UBL, HBL, LUCK, ENGROH and MARI, which collectively dragged the index down by 321 points.
Trading activity in the ready market weakened during the session. Ready-market volume declined to 421.016 million shares from 482.759 million shares on Friday, representing a decrease of 61.743 million shares, or 12.79 percent.
Total traded value in the ready market also contracted to Rs.17.736 billion from Rs.19.284 billion, declining by Rs.1.548 billion, or 8.03 percent.
Aggregate market capitalization decreased by Rs.34.897 billion to Rs.18.962 trillion compared to Rs.18.996 trillion in the preceding session.
Ready-market breadth favoured decliners, with 181 companies advancing, 267 declining and 48 remaining unchanged out of 496 active issues.
Cnergyico PK topped the ready-market volume table with 61.591 million shares. The stock closed at Rs13.32 against Rs13.18.
Tasdeeq Information followed with 60.322 million shares. It settled at Rs4.95 compared to Rs4.60.
Pak Refinery recorded 24.141 million shares, closed the day at Rs94.33 against R.93.11.
In ready-market price movements, Unilever Pakistan Foods Limited posted the largest gain, rising Rs203.50 to close at Rs25,185.50, while Attock Refinery Limited followed with an increase of Rs31.77 to settle at Rs1,177.12.
On the downside, PIA Holding Company Limited (B) recorded the largest price decline, falling Rs334.17 to end at Rs15,125.00, while Sapphire Textile Mills Limited declined Rs57.47 to close at Rs1,560.65.
The BR Automobile Assembler Index declined 41.24 points, or 0.18 percent, to close at 22,507.44 points on turnover of 0.923 million shares.
The BR Cement Index fell 111.84 points, or 0.94 percent, to 11,765.55 points, with total turnover of 8.875 million shares.
The BR Commercial Banks Index declined 224.46 points, or 0.38 percent, to close at 58,751.37 points on turnover of 13.472 million shares.
The BR Power Generation and Distribution Index gained 13.98 points, or 0.05 percent, to settle at 25,680.98 points, with turnover of 28.502 million shares.
The BR Oil and Gas Index edged up 10.17 points, or 0.07 percent, to close at 15,071.48 points, with total turnover of 13.613 million shares.
The BR Tech & Comm Index was the strongest among the listed tracking indices, gaining 30.34 points, or 0.91 percent, to close at 3,350.28 points on turnover of 54.240 million shares.
According to the analysts, market sentiment is expected to remain volatile in the near term, with selective buying potentially emerging if geopolitical tensions ease and oil prices trend lower. However, elevated energy prices, external-sector risks and the upcoming IMF review are expected to remain key factors influencing market direction.
