Stocks close lower on pre-budget uncertainty

#Stocks #close #prebudget #uncertainty

KARACHI: Pakistan Stock Exchange (PSX) closed down on Monday, as investors took a cautious stand during the uncertainty before the federal budget.

The benchmark KSE-100 Index fell 881.55 points, or 0.74 percent, at 118,221.12 points, less than 119,102.67 points listed in the last session. The highest index of the day was 119,290.94 points, while the lowest level was recorded at 118,150.28 points.

Arif Habib Limited analyst Ahsan Mahanti attributed the stock reduction to the “pre -budget session” pressure. High petroleum levies notifications; Concerns about the IMF approval on resolving a circular loan plan; And the delay on the budget fiscal year 26, which will now be presented on June 10, affected the emotions.

He said that the instability of the rupee and the geographical political tension played a vital role in the recession. The KSE -30 index decreased by 346.55 points or 0.95 percent to 36,301.75 points 35,955.2 points.

Shares of trade increased 297 million shares to 635.535 million shares by 338.003 million shares. The commercial value increased from Rs 18.576 billion to Rs 18.511 billion. Market Capital rose to Rs 14.325 trillion against Rs 14.325 trillion. Of the 467 companies operating in the session, 188 were closed in green, 235 and 44 in Red.

The local course observed a profit -taking session on Monday because uncertainty has kept weight on investors’ sentiment, said Topline Securities analyst Mosha Moula. He said that the recession trend was primarily driven by concerns over the delay in the announcement of the federal budget and the lack of clear about the terms of the IMF associated with it. In the absence of positive motivations, investors chose to cut their positions and take a cautious stance.

KK Electric Limited led the volume chart, and closed on its upper circuit, following the news that Ki had received a $ dollar tariff for its transmission and distribution business. Angi stock has been under pressure between PPL, OGDC and PSO rumors of a possible delay in circular loan clearance.

On the negative side, the key index heavyweights, including Engroo, Sis, PSO, FFC and OGDC, collectively participated in the benchmark index by 452 points. PIA Holding Company Limited B recorded the highest increase, which increased to Rs 22,006.32 to Rs 22,006.32, from Rs.2222,069.53 RS222,006.32 to RS2222,069.53 RSS22,006.32 to RS222,006.32. Rs 2,096.7 per share from RS190.61. A significant reduction was noted in the Rafan corn product company Limited, which was reduced by Rs 72.36 to Rs 10,755.23 per share. The Sezgar Engineering Works Limited followed it, which was reduced from Rs 36.29 to Rs 1,216.17 per share.

JS Global analyst Mohammad Hassan Athar said that the KSE index fell, as the government’s delay in presenting the federal budget and the uncertainty around the IMF’s financial goals weakened the sentiments of the investors. “Budget 2025-26 postponement and negotiations with the IMF are advancing the danger,” he said.

He added that the market is clearly underway with the IMF’s upcoming discussions and budget announcements. The fluctuations are likely to remain until finalizing the financial policy details.

The volume leader with 246.932 million shares, which closed by Re1.0, closed up to Rs 5.72 per share. The World Call Telecom, which has 36.720 million shares, followed it, which closed at a maximum of Rs 1.27 per share.

In the other major business, Telecard Limited, PTCL, Kohnor Spinning, Big Bird Foods Limited, diamond textile, Kanjico PK, Sidaxon Tin and Military Foods Ltd., 318 companies recorded trading, 317 of which increased to 217 and 67.