KARACHI: The Pakistan Stock Exchange (PSX) opened the week on a depressed note amid persistent regional and political turmoil as investors remained cautious in a directionless market due to lack of positive triggers.
Topline Securities Ltd said the KSE-100 index remained under pressure, closing at 165,966, down 453 points or 0.27pc, reflecting cautious investor sentiment.
The absence of positive triggers, coupled with elevated international oil prices and political instability in Khyber Pakhtunkhwa, continued to weigh on market sentiment, keeping investors cautious and limiting recovery attempts.
Index-heavy stocks remained under pressure, with United Bank, Engro Holdings, Systems Ltd, Hub Power and Sazgar Engineering Works emerging as major laggards, collectively shaving about 273 points off the benchmark.
Investor participation remained subdued as trading volume dipped to 370 million shares. However, turnover edged up to Rs19.5bn. Pakistan Refinery topped the volume chart with 52m shares.
Ali Najib, deputy head of trading at Arif Habib Ltd, said the PSX witnessed a lacklustre session as jittery conditions forced the index to close below the 166,000 level.
The brokerage noted that the index opened on a negative note and touched an intraday low of 165,918 before staging a recovery to a high of 166,698. However, the recovery proved short-lived as selling pressure intensified in the second half, erasing gains and dragging the index back towards its intraday low by close.
On the corporate front, Engro Fertiliser reported net profit of Rs9.1bn (earnings per share Rs6.83) for 3QCY26, up 57pc year-on-year, supported by stronger fertiliser offtakes. The company announced a cash dividend of Rs5.50 per share, compared with Rs4.50 per share in the same period last year, implying an 80pc payout ratio. The relatively measured payout may reflect a cautious capital allocation approach amid potential liabilities.
Analysts expect the market to remain volatile and range-bound between 164,000 and 168,000 amid cautious sentiment and evolving macroeconomic and geopolitical developments.
Published in Dawn, October 20th, 2026
