Karachi, Pakistan — Pakistan stocks started the week on a bearish note, with index-heavy sectors finishing in the red. The benchmark KSE-100 Index concluded Monday’s trading session at 78,539.18, showing a decrease of 1,578.71 points or 1.97%.
Reaction has been negatively impacted by heightened political tensions and media stories of the largest and most well-liked political party in Pakistan being banned. A correction was also warranted following a significant rally, and the increased political noise is now cited as justification.
KSE-100 Index Performance
The index remained negative throughout the day, reaching an intraday high of 80,085.63 points and a low of 78,404.76 points. The total volume of the KSE-100 Index was 201.00 million shares, with 13 companies closing up and 87 closing down.
Top Movers
Losers:
- NCPL: -6.31%
- INIL: -5.87%
- ABOT: -5.51%
- PSEL: -5.43%
- FABL: -5.01%
Gainers:
- SNGP: +4.07%
- POML: +3.62%
- GADT: +1.77%
- SHFA: +1.30%
- AVN: +1.19%
Sector Performance
The index was dragged down by several sectors:
- Commercial Banks: -343.59 points
- Oil & Gas Exploration Companies: -223.55 points
- Fertilizer: -219.09 points
- Power Generation & Distribution: -198.76 points
- Cement: -124.62 points
On the other hand, some sectors provided marginal support:
- Cable & Electrical Goods: +2.84 points
- Tobacco: +2.09 points
- Real Estate Investment Trust: +1.23 points
- Textile Spinning: +0.78 points
- Vanaspati & Allied Industries: +0.39 points
Broader Market
The All-Share Index closed at 49,867.34 with a net loss of 987.08 points or 1.94%. The total market volume was 375.60 million shares, down from the previous session’s 479.00 million shares. The traded value was recorded at Rs19.35 billion, a decrease of Rs8.50 billion. There were 235,758 trades reported in 445 companies, with 80 closing up, 318 closing down, and 47 remaining unchanged.
Top Ten by Volume
- KEL
- Price: 4.41
- Change: -2.65%
- Volume: 33,441,470
- PAEL
- Price: 26.59
- Change: 0.80%
- Volume: 23,559,106
- PIAHCLA
- Price: 17.02
- Change: -8.44%
- Volume: 19,205,471
- WTL
- Price: 1.18
- Change: 0.00%
- Volume: 18,446,092
- SNGP
- Price: 74.19
- Change: 4.07%
- Volume: 15,157,427
- FFBL
- Price: 40.94
- Change: -0.22%
- Volume: 12,645,914
- WAVESAPP
- Price: 9.20
- Change: -8.64%
- Volume: 12,146,695
- SILK
- Price: 1.00
- Change: 9.89%
- Volume: 9,719,653
- AVN
- Price: 66.21
- Change: 1.19%
- Volume: 9,628,229
- AIRLINK
- Price: 104.94
- Change: 0.49%
- Volume: 9,068,357
Fiscal and Calendar Year Performance
The KSE-100 has gained 94 points or 0.12% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 16,088 points, equivalent to 25.76%.
Gold Prices
Gold prices in Pakistan saw an upward trend on Monday. The price of 24-karat gold rose to Rs251,000 per tola, marking an increase of Rs1,000. The Karachi Sarafa Association reported that 24-karat gold also saw a rise, priced at Rs215,192 per 10-gram, up Rs857. Similarly, the price of 22-karat gold climbed to Rs197,260 per 10-gram.
Pakistani Rupee Performance
The Pakistani Rupee (PKR) experienced a decline of 17.33 paisa against the US Dollar during Monday’s interbank session. The currency settled at PKR 278.3 per USD, compared to the previous session’s closing of PKR 278.13 per USD.
Conclusion
The start of the week saw a notable downturn in Pakistan’s stock market, with significant declines in key sectors dragging the KSE-100 Index lower. Despite the bearish stock market, gold prices showed an upward trend, reflecting investor interest in safe-haven assets amid economic uncertainty. The Pakistani Rupee also saw a slight depreciation against the US Dollar, adding to the financial market’s volatility. Investors will be closely monitoring upcoming economic data and policy announcements for further market direction.
