KMI-30 Index Plunges 8,675 Points as Heavyweight Stocks Trigger Market Sell-Off

Karachi: The KMI-30 Index at the Pakistan Stock Exchange suffered a sharp downturn on Monday, shedding 8,675.81 points to close at 234,255.58, marking a significant decline of 3.57 percent. The index opened at 242,757.62 and briefly climbed to an intraday high of 244,437.34 before sustained selling pressure pushed it down to a session low of 233,103.29.
The dramatic fall reflects a broad-based sell-off in heavyweight stocks, particularly in cement, fertilizer, banking and energy sectors. Market sentiment remained fragile throughout the session as institutional investors appeared to offload positions following recent volatility in the broader equity market.
Among the major draggers, Lucky Cement (LUCK) erased a substantial 1,229.45 points from the index, making it the biggest contributor to the decline. Engro Holdings (ENGROH) followed closely with a negative impact of 1,185.48 points. Meezan Bank Limited (MEBL), Fauji Fertilizer Company (FFC), and Mari Petroleum (MARI) also recorded heavy losses, collectively intensifying the downward momentum.
On the positive side, Engro Fertilizers (EFERT) was the sole notable gainer, contributing 12.96 points. However, its modest gains were insufficient to offset the aggressive selling witnessed in large-cap stocks.
Trading volumes among index constituents stood at 78.63 million shares, indicating measured activity but strong directional selling. Despite the single-day correction, the fiscal year-to-date performance remains positive at 26.70 percent, underscoring the market’s earlier rally. However, the calendar year-to-date figure has slipped to negative 5.75 percent, highlighting growing short-term uncertainty.
Analysts suggest that profit-taking, coupled with cautious investor sentiment ahead of economic updates, likely fueled the decline. Technical experts now identify the 233,000 level as critical support, warning that sustained weakness below this range could trigger further downside.
While volatility persists, long-term investors are advised to focus on fundamentals and sector-specific developments rather than short-term swings.