Daily Times

The Pakistan Stock Exchange (PSX) kicked off the new trading week on a cautious note, with investors engaging in broad profit-taking amid the absence of fresh positive triggers.

Despite the ongoing corporate earnings season, market sentiment remained subdued, as results so far have failed to provide a strong boost. Concerns over declining cement prices and uncertainty ahead of the International Monetary Fund (IMF) review further weighed on investor confidence.

Muhammad Saad Ali, Director of Research at Intermarket Securities Ltd, highlighted key factors impacting the market:

“Profit-taking among institutional investors due to a lack of new positive triggers and the ongoing result season failing to uplift sentiment. Additionally, concerns over falling cement prices and investors waiting for the IMF review before making fresh positions.”

The benchmark KSE-100 Index initially gained 50.21 points (0.04%), reaching an intraday high of 112,851.14. However, it later retreated as investors exercised caution over both domestic and external economic concerns. The market touched a low of 111,857.33, marking a 943.6-point (-0.84%) decline from the previous close of 112,800.93.

Meanwhile, Finance Minister Muhammad Aurangzeb reaffirmed the government’s commitment to curbing tax evasion and tackling corruption, as Pakistan enters crucial negotiations with the IMF.