Karachi: Trading on the Pakistan Stock Exchange (PSX) on Monday proceeded cautiously. The main benchmark KSE-100 index ended the day at 176,966.68 points. The index fell by 199.84 points or 0.11 percent. Official data from the Pakistan Stock Exchange also showed the same level.
The market moved in both directions during the trading session. The KSE-100 index touched a high of 178,122.87 points. Later, selling pressure took it to a low of 176,735.57 points. Thus, the difference during the day was about 1,387 points.
The activity in the market was not limited to the major indices. According to the available data, the volume of the KSE-100 component index was 443.75 million shares. The total regular market saw a turnover of 933.52 million shares. This turnover was worth about Rs 44.10 billion.
However, all the major indices did not move in the same direction. The KMI-30 index rose 55.28 points to close at 251,515.81. It increased by 0.02 percent. In contrast, the KSE-30 index fell 26.27 points. The All Share Index also closed at 107,599.75, down 41.90 points.
In sectoral performance, the trend of oil and gas was relatively better. The OGTI index increased by 1.12 percent. This shows that selective buying in energy-related stocks provided some support to the market. On the other hand, the banking index fell by 0.45%.
OGDC, PPL, MLCF, DGKC and FCCL were among the stocks that contributed significantly to the positive contribution in the KSE-100. On the contrary, ENGROH, MEBL, SRVI, SYS and MCB had a negative impact on the index. This distribution shows that investors preferred specific stocks rather than broad buying overall.
The volatility in the PSX has been significant in recent sessions as well. Last week, the KSE-100 closed at 176,591.77 points at one point. During this time, investors gave importance to the global energy situation, geographical risks and local economic factors.
The global market environment is also not completely calm. On Monday, the Gulf stock markets saw an overall improvement, while oil prices fell by more than a dollar. Investors are also keeping an eye on the situation in the Middle East and possible US actions.
The current situation for the Pakistani market is more of a cautious approach than a bullish or bearish one. The KSE-100 is still up 1.67% compared to the beginning of the year. On a year-on-year basis, the index has gained about 18.38%.
In the next trading session, investors will focus on the results of major companies, local economic data and the trend of global markets. According to the current data, the fundamental interest in the market remains, however, there is a possibility of short-term volatility.
