The Pakistan Stock Exchange (PSX) lost momentum on Monday after a strong start, with the benchmark KSE-100 Index falling into negative territory by midday.
The index had jumped more than 400 points in the opening minutes and reached an intraday high of 182,347.50 points. The buying momentum, however, failed to hold.
By 12:39pm, the KSE-100 stood at 180,914.36 points, down 515.66 points, or 0.28 percent, from Friday’s close of 181,430.02.
Trading remained active, with around 241.87 million shares changing hands. The index moved within a range of 180,912.58 to 182,347.50 points during the session.
Several heavyweight stocks attracted buying in the morning, particularly across the banking, cement, automobile, exploration and refinery sectors. OGDC, POL, PPL, PSO, HBL, MCB, MEBL, NBP and ARL were among the major stocks trading higher.
Cnergyico Pakistan led activity among the most traded stocks, rising 6.37 percent to Rs12.70. Unity Foods gained 5.13 percent to Rs12.10, while TPL Corp advanced 5.17 percent to Rs21.75. Pakistan Refinery also climbed 3.89 percent to Rs66.23.
Selling pressure was visible in some major names. HUBCO dropped 4.72 percent to Rs214.99, while Bank of Punjab declined 3.84 percent to Rs35.06.
The broader market remained volatile, with Ruby Textile Mills, Ashfaq Textile and Janana De Malucho Textile Mills among the stocks posting gains of around 10 percent. Suhail Jute Mills was the biggest decliner, falling 9.34 percent.
Monday’s weakness came after a strong run last week, when the KSE-100 added 5,335.89 points, or 3 percent, to finish at 181,430.02 points.
Improving sentiment around developments involving Iran, Oman and shipping through the Strait of Hormuz had supported the recovery. Investors had also taken some comfort from expectations of progress towards a wider US-Iran understanding.
Global markets provided a mixed backdrop on Monday. Asian equities broadly followed Wall Street higher after weaker US jobs data reduced expectations of an immediate increase in US borrowing costs.
Oil prices, however, moved higher as uncertainty over the Strait of Hormuz continued. Brent crude rose 0.9 percent to $84.32 a barrel, while US crude gained 0.7 percent to $78.74.
Iran said an agreement with Oman on new shipping lanes through the Strait was nearing completion, but maintained that the waterway would not fully reopen until the US met other conditions.
Investors are also awaiting US inflation data due on Wednesday. A stronger-than-expected reading could bring back expectations of a Federal Reserve rate hike next month, adding another source of uncertainty for global markets.
Despite Monday’s retreat, the KSE-100 remains up 24.44 percent over the past year and 3.94 percent since the beginning of 2026.
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