The KMI-30 index of the Pakistan Stock Exchange closed in negative territory on January 9, 2026, as investors opted for profit-taking across key stocks, ending a short bullish streak in the Islamic equity segment.
The benchmark index began trading at 261,912.16 points, showing early strength before slipping into the red zone. During the session, the index fluctuated within a wide range of more than 4,500 points, highlighting increased volatility.
By the close of trading, the KMI-30 settled at 259,208.41 points, registering a loss of 2,263.77 points or 0.87 percent compared to the previous session.
Volatility Reflects Market Uncertainty
The intraday high of 262,468.08 points suggested buying interest at upper levels, but the low of 257,930.36 points confirmed that sellers maintained control for most of the session.
Despite the downturn, trading volume remained healthy at 213.19 million shares, reflecting sustained investor engagement in the market.
Performance Overview
- Open: 261,912.16
- High: 262,468.08
- Low: 257,930.36
- Close: 259,208.41
- Change: -2,263.77 points
- FYTD: +40.20%
- CYTD: +4.29%
Market analysts emphasized that the FYTD return continues to portray strong long-term confidence in Islamic equities.
Stocks Supporting the Index
Positive contributions came mainly from:
- Fauji Fertilizer Company (FFC)
- Fauji Foods Limited (FFL)
- Systems Limited (SYS)
These stocks managed to attract selective buying, particularly from long-term investors.
Stocks Pressuring the Index
The decline was largely driven by:
- Hub Power Company (HUBC)
- Lucky Cement (LUCK)
- Engro Holdings (ENGROH)
- Engro Fertilizers (EFERT)
- Oil and Gas Development Company (OGDC)
Analysts pointed out that the cement and energy sectors remained under pressure due to rising operational costs and global commodity price fluctuations.
Investor Strategy
Investors are currently adopting a selective approach, focusing on dividend-yielding and export-oriented companies. Islamic funds are also rebalancing portfolios to manage volatility.
A market participant said, “This is a healthy correction. The market cannot move in a straight line. These pullbacks provide new entry opportunities.”
What Lies Ahead
Experts believe upcoming corporate results and macroeconomic policy updates will determine the next direction of the KMI-30 index. If positive triggers emerge, the index may regain lost ground quickly.
For now, cautious optimism prevails among investors, who continue to monitor global and domestic developments closely.
