The Pakistan Stock Exchange (PSX) experienced a volatile session on Monday, with the benchmark KSE-100 Index surrendering early gains as investor sentiment remained cautious. The decline was driven by uncertainty surrounding the fragile United States-Iran ceasefire and rising global oil prices.
Market Performance
As of midday, the KSE-100 Index stood at 179,257.01, down 314.25 points or 0.19%. The market opened positively, with the index climbing more than 400 points in the first few minutes. At 9:39am, the benchmark was at 179,641.68, up 70.42 points or 0.04%. However, persistent fluctuations erased the gains, and by 12:44pm, the index had fallen to 179,238.91, down 332.35 points or 0.19%.
The intraday high reached 180,272.01, while the low was 179,158.98. Trading volume amounted to 172.56 million shares, with a turnover of Rs17.77 billion.
Sectoral Activity
Buying interest was noted in cement, commercial banks, oil and gas exploration companies, oil marketing companies (OMCs), power generation, and refinery stocks. However, selling pressure in selected heavyweights kept the benchmark in negative territory.
Geopolitical Factors
Market participants remained watchful of developments in the Middle East, as doubts over the durability of the US-Iran peace deal continued to cloud investor sentiment. Oil prices edged higher following days of tit-for-tat strikes between the US and Iran, underscoring the fragility of the interim truce and disrupting energy shipments through the Strait of Hormuz.
