PSX Ends Marginally Higher as Late Buying in Banking and Refinery Stocks Erases Sharp Intraday Losses

The Pakistan Stock Exchange (PSX) staged a strong late-session recovery on Monday, allowing the benchmark KSE-100 Index to close slightly higher despite witnessing heavy selling pressure during most of the trading session.

The market remained volatile throughout the day, with investors initially opting for profit-taking that dragged the benchmark index to an intraday low of 173,636.45 points, representing a decline of 2,166.33 points. However, renewed value buying in heavyweight banking and refinery stocks helped reverse losses in the final hours of trading, enabling the market to end the session in positive territory.

At the close, the KSE-100 Index settled at 175,927.73 points, registering a gain of 124.95 points (+0.07%). During the session, the benchmark traded within a wide range of 2,492.90 points, touching an intraday high of 176,129.35 points, up 326.57 points.

Trading activity remained healthy, with 343.88 million shares exchanged among KSE-100 companies. Out of the 100 index constituents, 42 stocks closed in positive territory, 54 declined, while 4 remained unchanged, reflecting mixed investor sentiment.

Among the day's best-performing stocks were Cnergyico PK Limited (CNERGY), which surged 8.16%, followed by Pioneer Cement Industries Limited (PIOC) with a 5.93% gain. Other notable performers included Attock Refinery Limited (ATRL) (+4.10%), Ghani Global Holdings Limited (GHNI) (+3.57%), and Pakistan International Bulk Terminal Limited (PIBTL) (+1.88%).

On the downside, Ghani Glass Limited (GHGL) declined 2.81%, while Kohinoor Textile Mills Limited (KTML) lost 2.80%. Other notable laggards included Air Link Communication Limited (AIRLINK) (-2.41%), Gadoon Textile Mills Limited (GADT) (-2.37%), and Kohat Cement Company Limited (KOHC) (-2.23%).

In terms of index-point contribution, United Bank Limited (UBL) emerged as the biggest supporter of the benchmark, contributing 183.57 points, followed by Attock Refinery Limited (ATRL) with 55.24 points, CNERGY with 38.61 points, Engro Holdings (ENGROH) with 32.05 points, and Hub Power Company Limited (HUBC) with 28.37 points.

Conversely, Habib Bank Limited (HBL) exerted the largest negative impact on the index, shaving off 40.62 points, followed by Millat Tractors Limited (MTL) (-32.62 points), Mari Energies Limited (MARI) (-24.39 points), Engro Fertilizers Limited (EFERT) (-24.28 points), and Service Industries Limited (SRVI) (-20.80 points).

Sector-wise performance remained mixed. The Commercial Banks sector provided the strongest support to the benchmark, adding 129.64 points, followed by Refinery (+93.85 points), Cement (+53.30 points), Investment Banks, Investment Companies & Securities Companies (+31.37 points), and Power Generation & Distribution (+18.66 points).

Meanwhile, losses in the Fertilizer sector weighed heavily on the market, dragging the index down by 56.41 points. Additional pressure came from Technology & Communication (-24.10 points), Leather & Tanneries (-20.80 points), Miscellaneous (-20.30 points), and Oil & Gas Marketing Companies (-20.00 points).

In the broader market, the All-Share Index closed at 106,419.79 points, down 148.49 points (-0.14%). Overall market participation improved, with 675.92 million shares traded compared to 621.02 million shares in the previous session. The total traded value also increased by Rs0.38 billion to Rs30.27 billion.

A total of 356,564 trades were executed across 492 listed companies, of which 165 stocks advanced, 277 declined, and 50 remained unchanged.

Among the most actively traded stocks, CNERGY led with 166.06 million shares, followed by Pakistan Refinery Limited (PRL) with 49.16 million shares, TPL Properties Limited (TPLP) with 38.44 million shares, Trust Securities & Brokerage Limited (TSBL) with 36.28 million shares, and K-Electric Limited (KEL) with 27.62 million shares.

Despite Monday's recovery, the benchmark KSE-100 Index has declined by 4,374 points, or 2.43%, during the current fiscal year. However, on a calendar-year basis, the index remains positive, gaining 1,873 points, or 1.08%, reflecting resilience amid ongoing market volatility and changing investor sentiment.