PSX Closing Bell: Red on Tiptoe

The KSE-100 index slipped to 165,966.08 at Monday's close, losing 453.63 points or 0.27%, according to Mettis Global. Investors locked in gains after a three-session rising run, and selling came through banks, cement makers, technology firms and investment houses. Buying in refinery and exploration stocks softened the fall.

UBL, ENGROH, SYS and FFC were the largest drags, with UBL alone erasing 73.52 points from the index. Breadth was negative, as 68 index companies closed lower against 30 higher and 2 unchanged. PGLC posted the steepest drop among the losers, falling 6.20%, while MCB made the biggest positive contribution at 39.07 points.

During the session the index moved within a 780.12 point band, peaking at 166,698.46 before sliding to 165,918.34. Volume totalled 108.61m shares, and across the wider market 163 stocks finished higher, 302 lower and 34 unchanged. The All-Share Index ended at 100,649.03, down 0.22%, while the KSE-100 has lost 14,336 points or 7.95% in the fiscal year and 8,088 points or 4.65% so far this calendar year.