PSX opens December with mixed trading as KSE-100 wavers around 166k

The Pakistan Stock Exchange (PSX) started the first day of December with mixed trading, reflecting a cautious sentiment among investors. The benchmark KSE-100 Index opened sharply lower, shedding over 250 points in the opening minutes of Monday’s session. By 9:45am, the index stood at 166,421.53, down 256.16 points or 0.15 percent from Friday’s close, signalling early profit-taking.

Selling pressure was particularly evident in heavyweights across key sectors, including automobile assemblers, cement, commercial banks, fertiliser, and oil and gas companies. Stocks such as MARI, OGDC, PPL, PSO, SNGPL, WAFI, MCB, MEBL, and NBP traded in the red, dragging the broader market lower. Around 9:40am, the KSE-100 Index briefly touched 166,024.79, a decline of 652.9 points, on a trading volume of 8.8 million shares.

Market rebounds mid-morning

Despite the early losses, the PSX recovered partially as investors sought opportunities in select counters. By 9:59am, the index climbed back to 166,843.14, gaining 165.45 points or 0.10 percent, with a turnover of 28.3 million shares. The market has remained resilient over the past year, showing a one-year gain of 64.61 percent and a year-to-date increase of 44.92 percent. The 52-week trading range remains wide, between 99,822.62 and 169,988.62, reflecting the market’s volatility over the last twelve months.

Top performers and laggards

Trading activity was dominated by both strong gainers and notable decliners. Among the top advancers, SEL, KSTM, ESBL, ASIC, FEM, SPL, ELCM, PAKL, INKL, and SZTM posted double-digit and near double-digit percentage gains, reflecting investor interest in high-momentum stocks. Meanwhile, the top decliners included TRSM, LIVENR, MWMP, TSBL, OML, CFL, TSMF, STYLERS, SML, and SGPL, all posting declines ranging from nearly 7 to 10 percent, as profit-taking intensified in certain counters.

The PSX enters December following a strong weekly performance, with the KSE-100 Index having closed last week at 166,677.70, up 4,574.78 points or 2.8 percent week-on-week. The prior week’s rally was broad-based, driven by gains in fertiliser, banking, technology, cement, and exploration & production sectors, signalling renewed investor confidence. Today’s early volatility suggests that traders are cautious at these elevated levels while selectively seeking opportunities in top-performing stocks.