KARACHI – The Pakistan Stock Exchange (PSX) witnessed a deep correction on Monday, March 30, 2026, as the KMI-30 Index, a key benchmark for Shariah-compliant stocks, shed over 7,300 points. The sharp decline marks one of the most volatile sessions of the quarter, reflecting a broad-based sell-off across major sectors.
The index opened the day at 219,857.04, which also served as its intraday high. However, the optimism was short-lived. From the opening bell, selling pressure mounted, pushing the index down to a low of 207,954.72 before it managed a modest recovery to close at 212,754.03. By the end of the day, the index had lost 3.35% of its value, translating to a massive 7,371.19 point drop.
The primary “draggers” for the day were the blue-chip heavyweights. Engro Holdings (ENGROH) led the decline, contributing a negative 953.04 points to the index. It was closely followed by Meezan Bank (MEBL), which stripped away 781.96 points. Other major contributors to the downward spiral included Lucky Cement (LUCK), Fauji Fertiliser Company (FFC), and Pakistan Petroleum Limited (PPL).
Market analysts suggest that the Year-to-Date (CYTD) performance, which now stands at a negative 14.40%, reflects ongoing concerns regarding macroeconomic stability and sector-specific headwinds. Despite the daily bloodbath, the Fiscal Year-to-Date (FYTD) return remains positive at 15.07%, though much of those gains are being rapidly eroded.
Trading activity remained moderate, with the index constituent volume recorded at 116.65 million shares. While Millat Tractors (MTL) managed to stand as a lonely “puller”, adding a marginal 28.33 points, it was nowhere near enough to stem the tide of the broader market retreat.
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