Karachi – The bearish trend continued during the trading week on the Pakistan Stock Exchange and the KMI-30 Index closed at 240,340.56 points with a loss of 880.31 points. Selling pressure prevailed in the market for most of the time while investors were seen adopting a cautious strategy.
At the start of trading today, the KMI-30 Index opened at 242,003.47 points and reached a high of 243,002.03 points in early trade. However, the market later fell due to profit-taking and selling pressure and recorded a low of 240,055.31 points.
According to the data, the index recorded a decline of 0.36 percent. According to experts, investors are cautious due to the recent economic situation and global market trends.
The most negative impact on the market was made by SYS, which caused a decline of 243.59 points in the index. PPL contributed 160.21 points, FFC 115.06 points, OGDC 108.75 points, while HUBC contributed 61.59 points.
On the other hand, FCCL showed positive performance and provided support to the index by 68.50 points. AIRLINK, LUCK, MEBL and DGKC also remained in the positive zone, however, their overall impact could not prove sufficient to stop the market downturn.
In terms of trading volume, 94.21 million shares were traded in the index’s constituent stocks. According to experts, there is activity in the market, but investors are being cautious in making big investment decisions.
The KMI-30 index has been showing positive performance, with an increase of about 30 per cent since the beginning of the financial year. However, the index has recorded a decline of 3.30 per cent during the current calendar year.
Analysts say that the Pakistan stock market is currently being affected by several internal and external factors. Global crude oil prices, interest rates and inflation concerns are affecting investor confidence.
According to experts, if economic indicators improve in the coming weeks and the government’s economic policies stabilise, the market may return to bullish momentum. According to them, the current situation is also being considered an opportunity for long-term investors.
