KARACHI: After a bullish start, the Pakistan Stock Exchange (PSX) turned bearish on Monday, reflecting the extension of depressed sentiment from the weekend session as investors continued taking profits amid a deteriorating security situation and a lack of any positive triggers.

According to Topline Securities Ltd, the PSX remained largely range-bound throughout the session as investors maintained a cautious posture amid the expiry of November futures contracts.

Market sentiment was further dampened by concerns surrounding the law and order situation in Peshawar after a suicide attack on the Federal Constabulary headquarters, which exerted downward pressure on the index during the initial hours of trade.

Nevertheless, selective buying in the latter part of the session helped stabilise the benchmark at 161,984, after recording an intraday high of 162,385 and a low of 161,241. The benchmark KSE 100 index eventually settled at 161,984.09 points, down 118.84 points or 0.07 per cent.

Fauji Fertiliser, Engro Corporation, Pioneer Cement, Bank Al-Habib and Habib Bank drove the market upward, collectively contributing 499 points to the index. In contrast, Mari Energies, Oil and Gas Development Company, Meezan Bank, Pakistan Oilfield and Pakistan Petroleum emerged as the leading decliners, cumulatively subtracting 347 points.

Market participation weakened sharply as trading volume plunged 36.15 per cent to 490.3 million shares, while traded value fell 17.37 per cent to Rs23.66 billion. PIA Holding Company led the volume chart, recording 63.2m shares that changed hands.

Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said the PSX experienced a neutral day, marked by muted volatility and limited directional movement, as investors awaited clearer signals on the first day of the rollover week.

On the corporate front, the Federal Cabinet appro­­ved the diversion of 24-29 surplus LNG cargoes from Qatar under the FY26 Net Proceed Differe­ntial (NPD) mechanism, following prior approval from the Economic Coordination Committee.

Analysts anticipate the market index will likely consolidate between 157,000 and 164,000 for the rest of the week. To ensure stability and lay a solid foundation for a potential rebound, the market must avoid a new low in the upcoming sessions.

Published in Dawn, November 25th, 2025