Profit-taking was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index shedding over 1,700 points during the intra-day of trading on Monday.
At 1:05pm, the benchmark index was hovering at 167,273.82, a decrease of 1,716.25 points or 1.02%.
Selling was observed in key segments including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks, including ARL, HUBCO, MARI, OGDC, PPL, POL, PSO, SSGC, SNGP, MCB, MEBL and UBL, traded in the red.
In a key development, Pakistan recorded the fastest decline in sovereign default risk, according to Bloomberg, and now stands second globally—behind only Türkiye.
During the previous week, the PSX maintained its strong upward momentum, with the KSE-100 Index closing at an all-time high of 168,990.06 points, marking a 4.1% week-on-week (WoW) increase. According to JS Global Capital, this represents the best nine-month performance since 2009, fuelled by continued investor optimism, sectoral strength, and improving macroeconomic indicators.
Internationally, Japanese stocks surged more than 4% to an all-time high while the yen skidded on Monday after fiscal and monetary dove Sanae Takaichi was elected as leader of the ruling party, putting her on course to become the nation’s first female prime minister.
Japan’s Nikkei soared as much as 4.3% to an unprecedented 47,734.04 in the first 15 minutes of trading after Takaichi bested the more moderate Shinjiro Koizumi in the Liberal Democratic Party’s leadership vote on Saturday, stoking expectations for fiscal stimulus.
Most other major share markets around the region were closed for holidays, including mainland China, South Korea and Taiwan.
Hong Kong’s Hang Seng declined 0.3%, ahead of a holiday on Tuesday. Australia’s benchmark eased 0.1%, though trading was thinned by holidays in several states including New South Wales and Queensland.
US S&P 500 futures pointed 0.2% higher, after the cash index rose to a record high on Friday.
This is an intra-day update
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