Shafaqna Pakistan: The Pakistan Stock Exchange (PSX) witnessed another volatile trading session on Monday as escalating tensions in the Middle East unsettled investors. However, late buying helped the benchmark KSE-100 Index recover early losses to close slightly higher.
The benchmark index settled at 175,927.74, up 124.95 points, or 0.07%, after swinging sharply throughout the session amid developments in the conflict between the United States and Iran.
The market opened under heavy selling pressure, with the KSE-100 falling more than 2,000 points in early trade as investors reacted to reports of fresh military exchanges between Washington and Tehran. The index hit an intraday low of 173,636.46 before steadily recovering.
It later touched an intraday high of 176,129.35, underscoring the market’s heightened volatility during the session.
Market participation remained healthy, with investors largely adopting a cautious stance amid heightened geopolitical uncertainty. Traders said initial risk aversion gave way to selective value buying later in the session, enabling the market to recover into positive territory.
Ahmed Sheraz, equity trader at KTrade Securities said the KSE-100 started the week on a highly volatile note as investors remained cautious amid escalating geopolitical tensions in the Middle East. He noted that the benchmark reacted sharply to the latest developments between the US and Iran, including US strikes on Iranian infrastructure and Tehran’s retaliatory response targeting American bases in the region.
“Despite the heightened uncertainty, the market staged a recovery from its intraday lows and closed in positive territory, reflecting resilience despite the volatile backdrop,” Sheraz said. Looking ahead, he said market direction would remain closely linked to geopolitical developments in the Middle East. Any escalation or signs of de-escalation between the US and Iran could influence near-term sentiment, while the upcoming corporate earnings season is also expected to play a key role in shaping investor expectations.
Overall trading volume increased to 675.9 million shares against Friday’s close of 621 million while the value of traded shares stood at Rs30.2 billion. In ready market, shares of 492 companies were traded, of which 165 stocks closed higher, 277 decreased and 50 remained unchanged.
Cnergyico PK was the volume leader with trading in 166 million shares, rising Rs0.8 to close at Rs10.61.
Source: Express Tribune
