KMI-30 Index Drops Over 2,100 Points as PSX Faces Broad Selling Pressure

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a bearish trading session on Tuesday as the KMI-30 index closed sharply lower, shedding 2,138.05 points amid selling pressure in major heavyweight stocks.

According to the market wrap issued for May 12, 2026, the KMI-30 index settled at 242,598.23 points after opening at 245,058.06. During the trading session, the benchmark Islamic index touched an intraday high of 246,661.47 before sliding to a low of 242,462.99.

The market recorded a negative change of 0.87 percent, reflecting cautious investor sentiment and profit-taking activity across several sectors. Trading activity remained notable, with index constituent volume reaching 241.53 million shares.

Market analysts said pressure in large-cap stocks pulled the index lower despite selective buying in banking and technology-related counters. The major draggers included Lucky Cement (LUCK), which contributed negatively by 343.05 points, followed by Engro Holdings (ENGRO) with a negative contribution of 340.93 points. Systems Limited (SYS), Maple Leaf Cement (MLCF), and Hub Power Company (HUBC) also remained among the leading laggards during the session.

On the positive side, Meezan Bank (MEBL) emerged as the top contributor, adding 69.55 points to the index. Airlink Communication (AIRLINK), Cnergyico (CNERGY), Millat Tractors (MTL), and CPHL also provided limited support to the market.

Despite the daily decline, the KMI-30 index continued to post a strong fiscal year-to-date (FYTD) gain of 31.21 percent, highlighting the market’s broader upward momentum over recent months. However, the calendar year-to-date (CYTD) performance remained negative at 2.39 percent, indicating ongoing volatility in local equities.

Analysts noted that investor focus is likely to remain centered on economic indicators, corporate earnings, exchange rate stability, and policy developments in the coming sessions.