Stocks slid on Monday as persistent foreign selling and underwhelming corporate earnings kept investors risk-averse, with political noise and uncertainty around IMF-linked policy direction adding to the pressure.
The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index settled at 174,453.93 points, down 5,149.80 points, or -2.87%, from the previous close of 179,603.73. The index traded between a high of 179,969.22 (up 365.49 points, or 0.2%) and a low of 173,574.26 (down 6,029.47 points, or -3.36%) against the previous close of 179,603.73.
“The market remained under pressure due to persistent foreign selling and corporate earnings that failed to justify elevated valuations,” said Huzaifa Riaz, Director, Mayari Securities (Pvt) Limited.
“Ongoing domestic political developments further dampened sentiment, keeping investors cautious and adding to the weakness,” he added.
Analysts expect measured activity in the coming week as Ramazan begins, with shorter sessions and subdued participation likely to cap momentum.
The corporate results season could still offer support if earnings surprise on the upside, while upcoming trade and current account data will be watched for any sign of stabilisation that could limit further downside.
