PSX Closing Bell: Boulevard of Broken Gains

February 23, 2026 (MLN): The KSE-100 Index witnessed a sharp sell-off on Monday, as escalating geopolitical tensions rattled investor confidence and triggered widespread risk aversion across global markets.

The benchmark index closed at 167,691.08, registering a steep decline of 5,478.63 points or 3.16%.

The market remained highly volatile throughout the session, trading in a wide range of 7,450.22 points. It recorded an intraday high of 174,336.85 (+1,167.14 points) before plunging to a low of 166,886.63 (-6,283.08 points).

Total trading volume for the KSE-100 Index stood at 204.73 million shares.

Market sentiment remained under pressure due to escalating tensions between the United States and Iran, which fueled uncertainty in global financial markets.

Heightened fears of potential conflict led investors to adopt a cautious stance.

Additionally, rising border tensions between Pakistan and Afghanistan further dampened local investor confidence, accelerating the sell-off.

Of the 100 index companies, only 2 closed in positive territory, while 98 ended the session in the red.

Top losers during the day were IBFL (-9.87%), TRG (-9.04%), BOP (-8.63%), HGFA (-8.60%), and PABC (-8.31%).

On the other hand, the few stocks that managed to close higher included SSOM (+10.00%) and EFERT (+0.10%), while SHFA (-0.02%), UPFL (-0.04%), and TPLRF1 (-0.20%) ended marginally lower.

In terms of index-point contributions, major drags on the index were LUCK (-425.05pts), FFC (-424.33pts), ENGROH (-409.85pts), UBL (-293.85pts), and MEBL (-277.26pts).

Meanwhile, companies that added points to the index were EFERT (+4.48pts) and SSOM (+2.42pts), whereas PGLC (-0.10pts), SHFA (-0.11pts), and UPFL (-0.18pts) had negligible negative contributions.

Sector-wise, the KSE-100 Index was primarily weighed down by Commercial Banks (-1,461.69pts), Cement (-780.80pts), Oil & Gas Exploration Companies (-572.07pts), Fertilizer (-481.68pts), and Investment Banks/Investment Companies/Securities Companies (-433.50pts).

On the upside, limited support came from Vanaspati & Allied Industries (+2.42pts), while Leasing Companies (-0.10pts), Woollen (-0.54pts), Textile Weaving (-0.55pts), and Modarabas (-1.60pts) showed marginal movements.

In the broader market, the All-Share Index closed at 100,605.79, posting a net loss of 3,347.16 points or 3.22%.

Total market volume stood at 461.26 million shares, down from 542.98 million in the previous session, while traded value declined by Rs2.43 billion to Rs24.94 billion.

A total of 310,844 trades were recorded in 479 companies, of which 42 closed higher, 389 declined, and 48 remained unchanged, reflecting overwhelmingly bearish sentiment across the board.

To note, the KSE-100 has gained 42,064 points or 33.48% during the fiscal year, whereas it has decreased 6,363 points or 3.66% so far this calendar year.

Looking ahead, Pakistan is set to host a delegation from the International Monetary Fund starting February 25, as the country continues efforts to stabilize its economy under IMF-supported programs.

 Developments and policy signals emerging from the discussions could significantly influence investor sentiment and market direction in the coming sessions.

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