The KMI-30 Index fell below the key 235,000 level on Monday as intense selling pressure gripped the Pakistan Stock Exchange. The index closed at 234,255.58, down 8,675.81 points or 3.57 percent, marking one of the sharpest declines in recent weeks.
After opening at 242,757.62, the market briefly gained strength and crossed 244,000 in early trading. However, investor sentiment quickly turned negative as heavyweight stocks came under sustained pressure. The index touched a low of 233,103.29 before marginal recovery into the close.
The downturn was largely driven by steep losses in cement, fertilizer, banking and energy stocks. Lucky Cement emerged as the biggest dragger, followed by Engro Holdings and Meezan Bank. Fauji Fertilizer Company and Mari Petroleum also recorded heavy losses, contributing significantly to the benchmark’s slide.
The only notable positive contributor was Engro Fertilizers, which added 12.96 points. Nonetheless, isolated gains failed to offset the broader decline.
With fiscal year-to-date returns still standing at 26.70 percent, analysts maintain that the broader bullish structure remains intact despite short-term weakness. However, the negative 5.75 percent calendar year-to-date figure reflects recent instability.
Market strategists emphasize that investors should remain cautious amid heightened volatility, closely tracking economic indicators, institutional flows and sector earnings to gauge the next directional move.
If selling pressure subsides and key support levels hold, the index could stabilize in the coming sessions. Until then, traders may continue to witness fluctuating momentum in Pakistan’s Shariah-compliant equity benchmark.
