Selling pressure was observed at the Pakistan Stock Exchange (PSX) as investors awaited the Monetary Policy Committee (MPC) decision later today. The benchmark KSE-100 Index lowered nearly 400 points during intra-day trading on Monday.
At 1pm, the benchmark index was hovering at 114,487.48, a decrease of 393 points or 0.34%.
Selling was seen across key sectors, including automobile assemblers, cement, chemical, commercial banks, oil and gas exploration companies, OMCs, refineries and power generation. Index-heavy stocks including HUBCO, SNGP, SSGC, MARI, OGDC, PPL, MCB, MEBL and UBL traded in the red.
“Key event today is the MPC, for which market consensus is a 100bps cut to a policy rate of 12%,” said Intermarket Securities in a note.
“Recent T-Bill auction saw short-term yields falling to under 11.5% while the policy rate stands at 13%. We think a larger than 100bps cut will be a positive trigger. After the MPC, the market will shift focus on politics and the results season (anticipating large dividends from some banks and fertilizer stocks),”it added.
During the previous week, the stock market witnessed a mixed trend as the investors remained cautious and avoided taking fresh positions due to uncertainty on the implications of amendments in the tax bill regarding non-filers which adversely impacted market sentiments.
The benchmark KSE-100 index declined by 391.59 points on a week-on-week basis and closed at 114,880.49 points.
Internationally, US stock futures and Asian shares outside China slumped on Monday as investors weighed the implications of Chinese startup DeepSeek’s launch of a free, open-source artificial intelligence model to rival OpenAI’s ChatGPT.
Meanwhile, the dollar rose after US President Donald Trump slapped Colombia with retaliatory levies and sanctions for turning away military aircraft carrying deported migrants. US Nasdaq Composite futures tumbled 1.8% as of 0158 GMT and S&P 500 futures sank 0.9%.
Japan’s Nikkei dropped 0.3%, reversing an initial advance. New Zealand’s equity benchmark slipped 0.6% and Singapore’s Straits Times index lost 0.2%.
At the same time, Hong Kong’s Hang Seng rallied 0.9% and mainland blue chips added 0.2%, even after data showed a surprise contraction in manufacturing this month.
This is an intra-day update
Selling pressure was observed at the Pakistan Stock Exchange (PSX) as investors awaited the Monetary Policy Committee (MPC) decision later today. The benchmark KSE-100 Index lowered nearly 400 points during intra-day trading on Monday.
At 1pm, the benchmark index was hovering at 114,487.48, a decrease of 393 points or 0.34%.
Selling was seen across key sectors, including automobile assemblers, cement, chemical, commercial banks, oil and gas exploration companies, OMCs, refineries and power generation. Index-heavy stocks including HUBCO, SNGP, SSGC, MARI, OGDC, PPL, MCB, MEBL and UBL traded in the red.
“Key event today is the MPC, for which market consensus is a 100bps cut to a policy rate of 12%,” said Intermarket Securities in a note.
“Recent T-Bill auction saw short-term yields falling to under 11.5% while the policy rate stands at 13%. We think a larger than 100bps cut will be a positive trigger. After the MPC, the market will shift focus on politics and the results season (anticipating large dividends from some banks and fertilizer stocks),”it added.
During the previous week, the stock market witnessed a mixed trend as the investors remained cautious and avoided taking fresh positions due to uncertainty on the implications of amendments in the tax bill regarding non-filers which adversely impacted market sentiments.
The benchmark KSE-100 index declined by 391.59 points on a week-on-week basis and closed at 114,880.49 points.
Internationally, US stock futures and Asian shares outside China slumped on Monday as investors weighed the implications of Chinese startup DeepSeek’s launch of a free, open-source artificial intelligence model to rival OpenAI’s ChatGPT.
Meanwhile, the dollar rose after US President Donald Trump slapped Colombia with retaliatory levies and sanctions for turning away military aircraft carrying deported migrants. US Nasdaq Composite futures tumbled 1.8% as of 0158 GMT and S&P 500 futures sank 0.9%.
Japan’s Nikkei dropped 0.3%, reversing an initial advance. New Zealand’s equity benchmark slipped 0.6% and Singapore’s Straits Times index lost 0.2%.
At the same time, Hong Kong’s Hang Seng rallied 0.9% and mainland blue chips added 0.2%, even after data showed a surprise contraction in manufacturing this month.
This is an intra-day update
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