Karachi: The Pakistan Stock Exchange closed sharply higher on Monday despite selling pressure in select energy sector stocks, as the KSE-100 Index surged 1.45 percent to finish at 185,062.11.
While overall market sentiment remained bullish, stocks such as Pakistan State Oil (PSEL), Pakistan Petroleum Limited (PPL), Engro Fertilizers (EFERT), Oil and Gas Development Company (OGDC), and Mari Petroleum (MARI) weighed on the index. PSEL alone dragged the benchmark by 69.76 points, making it the top laggard of the session.
However, strong gains in banking and cement stocks more than offset the losses, allowing the index to register a substantial net increase of 2,653.87 points. The day’s high stood at 185,481.45, reflecting strong buying interest during intraday trading.
With year-to-date gains now exceeding 47 percent, analysts believe the market is entering a consolidation phase but remains structurally strong in the medium term.
