The Pakistan Stock Exchange (PSX) closed deep in the red on Monday, with the benchmark KSE-100 Index falling by 881.55 points, or 0.74%, to settle at 118,221.12—continuing its downward trajectory ahead of the federal budget.
Investor sentiment remained under pressure throughout the session, driven by persistent concerns over potential tax measures in the upcoming FY26 budget. The market opened on a bearish note and shed around 500 points in the early hours. By 12:25 pm, the index had fallen as much as 929 points to 118,173.4, reflecting broad-based selling.
Key sectors bore the brunt of the pressure, with heavyweights such as HUBCO, OGDC, PPL, POL, MARI, PSO, and SSGC all trading in the red. Automobile assemblers, oil and gas exploration firms, oil marketing companies (OMCs), and power generation stocks also saw notable declines.
The latest drop adds to losses from the previous week, when the benchmark index slid by 546.47 points, or 0.45%, to close at 119,102.67. Analysts attribute the sustained bearish momentum to fiscal uncertainty, particularly speculation surrounding new tax measures as the government prepares to unveil its budget on June 10.
