Summary: After yesterday’s strong rally, the Pakistan Stock Exchange recorded a decline today, and the benchmark KSE-100 Index closed at 179,083 points, down 251 points. The index also touched a high of 180,769 points during the trading session. On the other hand, the KMI-30 Index also fell 510 points.
Karachi: After yesterday’s strong rally, the Pakistan Stock Exchange (PSX) recorded a decline at the end of trading today, where the benchmark KSE-100 index failed to maintain the level of 180,000 points.
The market started the trading week on Wednesday with a negative trend, and the index fell by about 500 points in the initial session.
However, the market later witnessed a recovery due to buying by investors and improvement in share prices. The KSE-100 index rose by more than 1,433 points during trading to reach a high of 180,769.21 points.
However, this momentum could not be sustained, and the index closed at 179,083.80 points at the end of trading after a decline of 251.44 points, or 0.14 percent. In the previous trading session, the index had closed at 179,335.24 points.
According to Pakistan Stock Exchange data, about 1.248 billion shares were traded in the stock market today, with a total value of Rs 41.81 billion.
The total investment of the market (market capitalisation) also decreased by about Rs 20.3 billion to Rs 19,376.99 billion, which was Rs 19,397.29 billion in the previous trading session.
On the other hand, the KMI-30 Index, an important benchmark for Islamic investment, also saw a decline. The index closed at 256,073.82 points after a decline of 510 points, or 0.20 percent, while it was at 256,583.82 points in the previous trading session.
The KMI-30 index touched a high of 258,703.74 points and a low of 255,453.07 points during the trading session.
Similarly, the KSE All Shares Index closed at 106,969.29 points after a decline of 40.87 points, while the KSE -30 index recorded a decline of 175.66 points and came to 52,230.29 points.
Out of 498 companies trading in the stock market, 255 increased their share prices, 215 decreased, while the share prices of 28 companies remained unchanged.
The overall market trend shows that investors have adopted a cautious attitude after the significant rally in the previous session; however, the trading volume exceeded 1.24 billion shares.
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