PSX Intra-Day: Bulls Run Out of Steam

April 02, 2026 (MLN): The benchmark KSE-100 Index witnessed a sharp decline during intraday trading on Thursday, which reflects broad-based selling pressure in line with weak global cues.

As of 12:09 PM, the KSE-100 Index was recorded at 151,291.17, down 4,220.39 points or 2.71%.

The index traded in a range of 2,029.76 points, hitting an intraday high of 152,052.19 (-3,459.37 points) and a low of 150,022.43 (-5,489.13 points), reflecting heightened volatility in the session.

Market participation remained subdued, with total traded volume in the KSE-100 Index recorded at 100.06 million shares.

Out of the 100 index constituents, only six stocks were trading in positive territory, while 93 declined and one remained untraded, highlighting widespread selling pressure across the board.

On the losing side, stocks such as NPL (-6.21%), SEARL (-5.84%), PAEL (-5.70%), PTC (-5.33%), and MLCF (-5.18%) posted notable declines during the session. Meanwhile, limited gains were recorded in FHAM (+4.65%), MEHT (+2.47%), HGFA (+2.17%), UPFL (+1.58%), and RMPL (+0.56%).

In terms of index-point contribution, UBL (-439.30 points), FFC (-266.70 points), HUBC (-212.18 points), LUCK (-212.11 points), and MCB (-205.46 points) were the major drags on the index, collectively pulling it lower. 

Sector-wise, the KSE-100 Index was weighed down by Commercial Banks (-1,410.69 points), Cement (-487.40 points), Oil & Gas Exploration Companies (-482.97 points), Fertilizer (-358.41 points), and Power Generation & Distribution (-267.46 points), all of which contributed significantly to the decline.

Investor sentiment remained cautious amid global uncertainty. Oil prices surged in volatile trading after Donald Trump warned of intensified military action against Iran over the next two to three weeks, dampening expectations of near-term de-escalation and keeping energy markets on edge.

At the same time, US stock futures pointed to a weaker open despite gains in the previous session, with futures linked to major indices declining notably. The global risk-off mood spilled over into emerging markets, including Pakistan, triggering selling pressure at the local bourse.

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