A volatile trading session gripped the Pakistan Stock Exchange (PSX) on Monday, as the benchmark KSE-100 Index shed almost 1,400 points during the opening hours.
The day began on a positive note, with the index touching an intra-day high of 118,765 points. However, selling pressure swiftly overtook, dragging the index down to 116,255.12 by the closing bell, reflecting a loss of 1,331.86 points or -1.13%.
Heavy losses were recorded in sectors including commercial banks, oil and gas exploration, oil marketing companies (OMCs), and power generation. Prominent stocks such as HUBCO, PSO, SHELL, SSGC, MARI, OGDC, PPL, HBL, MCB, MEBL, and NBP saw significant declines.
Despite the sell-off, market experts hinted at potential buying opportunities. “We think it is a good time to accumulate cement on dips, as the sector can outperform defensive sectors over the next six months if the hitherto pricing discipline sustains,” stated Intermarket Securities in its market review.
The downturn came on the heels of a bullish performance last week, where the KSE-100 Index posted a record weekly gain of 6,235.80 points, closing at an all-time high of 117,586.98 points on January 3, 2025. The rally was fuelled by strong investor confidence and institutional support.
