KARACHI, April 28, 2026 – Pakistan’s benchmark stock index fell sharply on Tuesday as investors reacted to an unexpected interest rate hike by the State Bank of Pakistan, dampening risk appetite and triggering broad-based selling across key sectors.
The KSE-100 index at the Pakistan Stock Exchange closed down by nearly 1,100 points, reflecting investor concerns over tighter monetary policy and its potential impact on economic growth and corporate earnings.
The central bank raised its policy rate by 100 basis points to 11.5%, a move analysts described as hawkish and largely unanticipated. The decision sent shockwaves through the equity market, where participants opted for cautious positioning and profit-taking.
KSE-100 Index Snapshot – April 28, 2026
| Market Status | Closed |
| Current Index | 168,412.23 |
| Change | -1,085.12 |
| Percent Change | -0.64% |
| High | 169,313.90 |
| Low | 168,170.74 |
| Volume | 592,488,057 |
| Previous Close | 169,497.35 |
| Value | 22,432,193,343 |
According to analysts at Topline Securities, the market witnessed a lackluster session, weighed down by the aftershocks of monetary tightening. The benchmark index remained under pressure throughout the day, hitting an intraday low of 1,326 points before recovering slightly to close at 168,412.
Heavyweight stocks including Fauji Fertilizer Company (FFC), United Bank Limited (UBL), Lucky Cement (LUCK), National Bank of Pakistan (NBP), and Sazgar Engineering Works (SAZEW) remained under sustained selling pressure, collectively dragging the index lower.
Market participation stayed subdued, though trading volumes remained significant. Cnergyico PK Limited (CNERGY) led the volume chart with 265 million shares traded, as investors continued to reassess positions in a higher interest rate environment.