The Pakistan Stock Exchange ended Monday’s session lower, with the benchmark KSE-100 index closing at 165,658.94 points, down 750.31 points or 0.45 percent from Friday’s close of 166,409.25 points. Trading was volatile through the day, with selling pressure in banks, cement, oil and gas exploration companies, oil marketing companies and refineries.
The index fell to an intraday low around 165,585 points in the morning session, after opening on a weak note and shedding more than 500 points in the opening minutes. It touched an intraday high of 166,581.95 points, according to market reporting, before closing lower. At midday the index was trading around 165,776.85 points, down 632.40 points.
The weak session followed a recovery in the previous week, when the index gained 4,034.37 points, or 2.5 percent, to end a five-week losing streak. Market watchers linked Monday’s caution to persistent geopolitical uncertainty and the outlook for energy prices, even as global oil prices eased on hopes for progress in talks over the Iran conflict. This report describes market movement only and is not investment advice.
Sources: The Express Tribune, Business Recorder, Pakistan Stock Exchange data. Written in our own words for information only.