Equities falter below 166,000 amid selling pressure
KARACHI: The Pakistan Stock Exchange (PSX) opened the week on a depressed note amid persistent regional and political turmoil as investors remained cautious in a directionless market due to lack of positive triggers. Topline Securities Ltd said the KSE-100 index remained under pressure, closing at 165,966, down 453 points or 0.27pc, reflecting cautious investor sentiment. The absence of positive…
The Pakistan Stock Exchange (PSX) kicked off the week on a downbeat note as regional and political unrest loomed large, causing investors to tread cautiously in a market devoid of positive catalysts, according to Topline Securities Ltd. The KSE-100 index, which serves as the benchmark, struggled throughout the week, closing at 165,966 points, marking a 453-point decline or 0.27%, signaling a cautious investor sentiment.
The absence of uplifting factors, coupled with high international oil prices and political instability in Khyber Pakhtunkhwa, only added to the gloom, causing investors to remain on edge and dampening any hopes of a market recovery. Index-focused stocks faced pressure, with key players like United Bank, Engro Holdings, Systems Ltd, Hub Power, and Sazgar Engineering Works leading the decline, collectively pulling down the benchmark by 273 points.
Despite a dip in trading volume to 370 million shares, turnover managed to climb to Rs19.5 billion. Pakistan Refinery led the trading volume with 52 million shares. Ali Najib, deputy head of trading at Arif Habib Ltd, attributed the PSX's lackluster session to jittery market conditions, with the index closing below the crucial 166,000 level.
The index opened on a negative note, plummeting to an intraday low of 165,918 before rebounding to a high of 166,698. However, the recovery was short-lived as selling pressure in the latter half of the session wiped out gains and dragged the index back to its intraday low by the close of trading. On the corporate front, Engro Fertiliser reported a net profit of Rs9.1 billion (earnings per share Rs6.83) for the third quarter of the calendar year 2026, which was a 57% increase year-on-year.
The company announced a cash dividend of Rs5.50 per share, up from Rs4.50 per share in the same period last year, reflecting an 80% payout ratio. This more conservative payout may indicate a cautious approach to capital allocation in light of potential liabilities. Analysts expect the market to stay volatile and range-bound between 164,000 and 168,000 in the coming days, given the prevailing cautious sentiment and the evolving macroeconomic and geopolitical landscape.
Written by urgent.news from Dawn Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
