KARACHI (MNN); The Pakistan Stock Exchange (PSX) witnessed massive selling on Monday, with the benchmark KSE-100 Index plunging 5,150 points, or 2.87%, marking its third-largest single-day point decline, according to Al-Habib Capital Markets Limited.
The index opened under pressure and quickly fell below the 179,000 mark, with selling accelerating in the latter half as it dropped past 176,000. The intra-day low of 173,574.26 saw a brief rebound toward the close, but the recovery remained limited, and the KSE-100 settled at 174,453.93.
Waqas Ghani, Head of Research at JS Global, said the sharp fall was primarily driven by massive redemptions and heavy selling from a few large mutual funds. Saad Hanif of Ismail Iqbal Securities and Topline Securities also attributed the decline to foreign selling, noting that foreign outflows, combined with rising political uncertainty, intensified bearish momentum.
Index-heavy stocks — including Fauji Fertilizer Company, United Bank Limited, Engro Holdings, Habib Bank Limited, and Bank AL Habib Limited — collectively erased 1,680 points from the benchmark.
Federal Finance Minister Muhammad Aurangzeb reaffirmed the government’s commitment to accelerating privatisation, stating that more state-owned enterprises would gradually be privatised.
Last week, the PSX also faced sustained selling due to political uncertainty and deteriorating security, particularly in Balochistan, overshadowing positive macroeconomic developments and strong external inflows. The KSE-100 ended the week at 179,603.73 points, down 4,525.85 points, or 2.5% week-on-week.
