PSX Closing Bell: Early Surge Ends in Surrender

June 23, 2026 (MLN): The Pakistan Stock Exchange (PSX) remained under pressure on Tuesday as persistent profit-taking in heavyweight banking and fertilizer stocks outweighed gains in the energy sector, pushing the benchmark KSE-100 Index lower for a second consecutive session.

The KSE-100 Index closed at 177,692.92, down 778.94 points or 0.44%.

The benchmark traded in a range of 1,731.18 points, reaching an intraday high of 179,405.55 (+933.69 points) before reversing course and falling to a low of 177,674.37 (-797.49 points).

Investor sentiment remained cautious despite continued optimism surrounding ongoing diplomatic efforts between the United States and Iran. While hopes for a formal peace agreement helped keep international oil prices relatively contained, investors opted to book profits in major banking stocks following the market's strong rally in recent weeks.

The Commercial Banks sector emerged as the biggest drag on the benchmark, with selling pressure concentrated in large-cap names such as UBL, BAHL, and BAFL. Profit-taking also extended to fertilizer, automobile, and technology stocks, limiting the market's ability to sustain early gains.

Meanwhile, oil and gas exploration companies provided support to the index as investors continued to favor energy stocks amid lingering geopolitical uncertainty in the Middle East and expectations of stable earnings from the sector.

Of the 100 index companies, 28 closed higher, 71 declined, while one remained unchanged.

Among the top losers were SSOM (-5.91%), GHGL (-5.42%), MEHT (-3.96%), BAHL (-2.63%), and HCAR (-2.62%). On the gaining side, KEL (+2.68%), MLCF (+2.52%), SNGP (+2.28%), SSGC (+2.20%), and COLG (+2.07%) led the market.

In terms of index-point contribution, UBL erased 249.76 points from the benchmark, followed by BAHL (-130.86 points), ENGROH (-90.95 points), FFC (-63.65 points), and BAFL (-59.06 points).

On the positive side, OGDC contributed 88.42 points to the index, while MLCF (+41.86 points), PPL (+39.56 points), SNGP (+24.84 points), and COLG (+22.03 points) helped limit losses.

Sector-wise, the benchmark was dragged lower by Commercial Banks (-608.83 points), Investment Banks/Investment Companies/Securities Companies (-97.34 points), Fertilizer (-94.32 points), Automobile Assemblers (-64.16 points), and Technology & Communication (-53.96 points).

Support came from Oil & Gas Exploration Companies (+123.61 points), Cement (+54.00 points), Food & Personal Care Products (+28.84 points), Oil & Gas Marketing Companies (+20.41 points), and Leather & Tanneries (+15.94 points).

In the broader market, the All-Share Index closed at 107,527.39, down 222.76 points or 0.21%.

Total market volume stood at 765.14 million shares compared to 807.47 million shares in the previous session, while traded value decreased to Rs35.44 billion. A total of 409,228 trades were recorded in 493 companies, with 146 closing higher, 308 lower, and 39 remaining unchanged.

To note, the KSE-100 has gained 52,066 points or 41.44% during the fiscal year, whereas it has increased 3,639 points or 2.09% so far this calendar year.

Copyright Mettis Link News