Pakistan Stock Exchange (PSX) benchmark index, the KSE-100, closed in the red, down 5,149.80 points from its previous close.

The index lost 2.87 per cent from its previous close of 179,603.73 points to close at 174,453.93 points.

Trading volumes stood at 378,714,148 at a value of Rs37,382,003,783.

The intraday high was 179,969.22 points, and the intraday low was 173,574.26, representing a heightened amount of volatility.

The 1-year change was a positive 55.64pc while the year-to-date change was a rise of 0.23pc.

The top active stocks were led by K-Electric Limited, falling 4.91pc to Rs8.13 at a volume of 63,826,098, followed by Worldcall Telecom Limited falling 6.13pc to Rs1.53 at a volume of 62,243,488, and Bank of Punjab, falling 8.55pc to Rs33.25 at a volume of 56,166,941.

The top advancing stocks were led by Trust Securities & Brokerage Limited, rising 19.90pc to Rs2.29, followed by 786 Investments Limited, rising 10.03pc to Rs17.88, and Tariq Corporation Limited(Pref), rising 10.01pc to Rs16.93.

The top decliners were LSE Capital Limited (Right), down 22.61pc to Rs1.78; Gulistan Spinning Mills Limited, down 12.09pc to Rs11.58, and Kohinoor Industries Limited, down 10.01pc to Rs50.27.

Bears remained dominant in the market last week, with Topline Securities noting that the ongoing negative momentum was due to the “ongoing result session, where corporate results fell short of investors’ expectations”.

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Oil traded little changed on Monday, with investors weighing the market implications of upcoming US-Iran talks aimed at de-escalating tensions against a backdrop of expected supply increases from the Organisation of the Petroleum Exporting Countries and allies (Opec+).

Brent crude futures edged up 3 cents to $67.78 a barrel by 03:58 GMT.

US West Texas Intermediate crude was at $62.91 a barrel, up 2 cents. There will be no WTI settlement on Monday due to a US holiday.

Last week, both benchmarks posted weekly declines, with Brent settling down about 0.5 per cent and WTI losing 1pc after comments from US President Donald Trump that Washington could make a deal with Tehran over the next month drove down prices on Thursday.

The two countries are due to hold a second round of talks in Geneva on Tuesday after renewing negotiations earlier this month aimed at tackling their decades-long dispute over Tehran’s nuclear programme and averting a new military confrontation.

Iran is pursuing a nuclear agreement with the US that delivers economic benefits for both sides, with energy and mining investments and aircraft purchases up for discussion, an Iranian diplomat was reported as saying on Sunday.

“With both sides expected to hold firm on their core red lines, expectations are low that a deal can be reached, and this is likely to be the calm before the storm,” IG market analyst Tony Sycamore said.

The US has dispatched a second aircraft carrier to the region and is preparing for the possibility of a sustained military campaign if the talks do not succeed, US officials have told Reuters. Iran’s Revolutionary Guards have warned that in case of strikes on Iranian territory, they could retaliate against any US military base.

With US-Iran tensions pushing up oil prices, Opec+ is leaning toward resuming output increases from April following a three-month halt, to meet peak summer demand, Reuters reported.

Activity in global financial markets is expected to be muted on Monday, with China, South Korea, and Taiwan closed for Lunar New Year holidays, in addition to Presidents Day in the United States.

“With Chinese demand cues largely absent this week, liquidity remains thin, and price action could stay erratic,” said Sugandha Sachdeva, founder of SS WealthStreet, a New Delhi-based research firm.

In the near term, geopolitical developments and inventory data will remain the primary drivers of volatility, keeping crude vulnerable to sharp two-way swings, Sachdeva added.

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Pakistan Stock Exchange (PSX) benchmark index, the KSE-100, was down 6029.47 points to 173,574.26 points by 3:00pm on Monday.

The index lost 3.36 per cent from its previous close of 179,603.73 at a trading volume of 302,069,750, and a value of 29,648,678,639.

The top active stocks were led by K-Electric Limited, falling 3.98pc to Rs8.21 at a volume of 48,142,642, followed by Hum Network Limited rising 4.92pc to Rs12.80 at a volume of 44,299,472, and Worldcall Telecom Limited, falling 4.91pc to Rs1.55 at a volume of 43,653,827.

The top advancing stocks were led by Trust Securities & Brokerage Limited, rising 19.37 to Rs2.28, followed by 786 Investments Limited, rising 10.03 to Rs17.88, and Agritech Non-Voting (Pref) Class A, rising 10.01 to Rs38.67.

The top decliners were LSE Capital Limited.(Right), down 16.96pc to Rs1.91; Gulistan Spinning Mills Limited, down 12.09pc to Rs6.91; and EKohinoor Industries Limited, down 10.01pc to Rs50.27.

Bears remained dominant in the market last week, with Topline Securities noting that the ongoing negative momentum was due to the “ongoing result session, where corporate results fell short of investors’ expectations”.

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