The equities kicked off the month on a negative note, with the benchmark KSE-100 Index shedding over 250 points during the opening minutes of the trading session on Monday.
At 9:45am, the benchmark index was hovering at 166,421.53, a decrease of 256.16 points or 0.15%.
Selling pressure was observed in key sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies and OMCs. Index-heavy stocks, including MARI, OGDC, PPL, PSO, SNGPL, WAFI, MCB, MEBL and NBP, traded in the red.
The Pakistan Stock Exchange (PSX) ended the previous week on a strong upward trajectory, with the benchmark KSE-100 Index closing at 166,677.70, gaining 4,574.78 points, or 2.8% percent week-on-week. The rally remained broad-based, supported by gains in major sectors including fertiliser, banks, technology & communication, cement, and exploration & production, reflecting improved market sentiment.
Globally, Asian stocks made a steady start on Monday to the final month of 2025 as US rate-cut optimism lifted risk sentiment ahead of economic data, while the yen firmed, with investors weighing the prospect of a near-term rate hike.
The spotlight in the currency market has been on the Japanese yen, which strengthened to 155.64 per US dollar as Bank of Japan Governor Kazuo Ueda took the stage in Nagoya, Japan, with investors parsing his comments for cues on the timing of the next hike.
Ueda said in a speech to business leaders that the central bank will consider the “pros and cons” of raising interest rates at its next policy meeting in December.
In stocks, MSCI’s broadest index of Asia-Pacific shares outside Japan was steady at 703.19, having gained 23.5% so far this year and on course for its best annual gain since 2017. Japan’s Nikkei fell 1.3% in early trading.
US stock futures, though, were lower in Asian hours, while Hong Kong’s Hang Seng rose over 1% pushing Asian stocks higher.
This is an intra-day update
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