The Pakistan Stock Exchange witnessed a sharp decline in the KMI-30 index on Monday as investors remained cautious due to economic uncertainty and profit-taking in heavyweight stocks. Major companies including OGDC, ENGRO, MEBL, PPL, and HUBC dragged the market lower.
Karachi: The Pakistan Stock Exchange (PSX) witnessed a sharp decline on Monday as the KMI-30 index recorded a sharp decline of 6,271.80 points during trading, reflecting growing investor concerns over market stability, economic uncertainty and rising selling pressure in key sectors.
According to the latest market performance update released by the PSX for May 18, 2026, the KMI-30 index opened at 237,761.60 points and touched an intraday high of 238,182.12 points before falling sharply to a low of 232,360.25 points. The market eventually closed at 232,680.60 points with a negative change of 2.62 percent.
Market analysts said the bearish momentum prevailed throughout the session as investors preferred profit booking in major energy, banking and oil-related stocks. The decline came amid concerns over inflationary pressures, fiscal challenges and uncertainty over future economic policy measures.
The trading report showed that the index volume stood at 78.39 million shares, indicating significant investor activity despite the overall negative sentiment. Experts noted that institutional investors remained cautious while retail investors also adopted a defensive stance during the session.
Among the top draggers of the KMI-30 index, Oil and Gas Development Company (OGDC) emerged as the biggest negative contributor, shedding 732.28 points. ENGRO Holdings followed with a negative contribution of 688.97 points, while Meezan Bank Limited (MEBL) removed 662.69 points from the benchmark.
Pakistan Petroleum Limited (PPL) also weighed heavily on the market, dragging the index down by 632.18 points, while Hub Power Company (HUBC) had a negative impact of 500.83 points.
On the other hand, Sui Northern Gas Pipelines Limited (SNGP) was the only major positive contributor during the trading session. The company added 14.52 points to the index, slightly limiting the overall losses recorded during the day.
Financial experts said that the decline in international commodity prices and uncertainty in the energy sector were affecting investor confidence in the PSX. They added that market participants are keeping a close eye on economic indicators, foreign exchange reserves and upcoming government policy announcements.
The analysts added that the market is likely to remain volatile in the coming days as investors react to macroeconomic developments and corporate earnings expectations. However, they believe that long-term investors can still find opportunities in fundamentally strong sectors even after the market returns to stability.
The Pakistan Stock Exchange has seen volatility in recent weeks, with investors keeping a close eye on inflation trends, interest rates and external financial developments. Traders said that better economic clarity and political stability would be essential to restore investor confidence and help the market recover.
