Share prices sink at Pakistan Stock Exchange

After dominating most of the trading, the bulls retreated towards the close of business at Pakistan Stock Exchange (PSX) on Monday, with the index down by over 800 points, reported 24NewsHD TV channel.

As the business was set into motion, the bulls were all over with share prices lifting the index to over 120,000 points, as the dust started to settle down after the dangerous Pakistan-India conflict and news about the making of the budget started to making rounds in the media. 

The PSX’s benchmark KSE-100 Index soared by 733 points or 0.61 percent to climb up to 120,424.86 points, but at the close of the day, the index was down by 8.13.29 points or -0.68 points, taking the index down to 118,877.80 points.

Economic experts opined that market is trading within a tight 3% to 4% range ahead of the federal budget.

On the last trading day on Friday, the PSX index had gained 719.69 points or 0.60 percent, closing at 119,691.09 points.

A total of 580,318,842 shares were traded during the day whereas the price of shares stood at Rs22.743 billion.

As many as 474 companies transacted their shares in the stock market, 259 of them recorded gains and 161 sustained losses, whereas the share price of 54 companies remained unchanged.

The three top trading companies were WorldCall Telecom with 79,666,803 shares at Rs1.37 per share, K-Electric Limited with 47,700,857 shares at Rs5.32 per share and Cenrgyico PK with 35,756,575 shares at Rs7.86 per share. PIA Holding Company Limited witnessed a maximum increase of Rs2,670.41 per share closing at Rs29,374.54, whereas runner-up was Khyber Textile Mills Limited with Rs253.70 rise in its share price to close at Rs2,790.71.

Meanwhile, Finance Minister Senator Muhammad Aurangzeb had indicated earlier this week that the FY26 budget would contain tax relief for the salaried class.

Speaking in Islamabad, he said the government is committed to easing the tax burden on salaried individuals, whose income is taxed at source. He added that the upcoming budget should offer strategic economic direction rather than merely itemizing revenues and expenditures.

Reporter: Kawish Memon