Karachi: Business remained volatile on the Pakistan Stock Exchange (PSX) on Thursday; however, the market closed in the negative zone at the end. Major benchmark indices closed in losses due to profit-taking by investors, selling pressure in selected sectors and a cautious investment trend.
According to official market data, the KSE-100 index closed at 181,259.68 points, down 369.69 points, or 0.20 percent. The index touched a high of 182,276.81 points and a low of 179,411.36 points during the trading session. The market opened at 180,064.79 points.
In terms of business activity, the total volume of shares of companies included in the KSE-100 index was recorded at 470.84 million shares, reflecting continued investor interest, although trading ended on a negative note. The index has gained 0.53 percent year-to-date (FYTD) and 4.14 per cent during the calendar year (CYTD).
The prominent stocks that contributed positively to the market performance included GHNI, FATIMA, UBL, CNERGY and GAL, which tried to support the index overall. On the other hand, the decline in shares of MEBL, MCB, PPL, ENGROH and AKBL maintained significant pressure on the market.
On the other hand, the KMI-30 index also saw a negative trend. The index closed at 255,607.53 points after a decline of 762.23 points, or 0.30 percent. The highest level during the trading was 257,304.20, while the lowest level was recorded at 253,140.26 points. The market opened at 253,828.02 points.
The trading volume of shares of companies included in the KMI-30 was 154.75 million shares. The index has declined by 0.67 percent since the beginning of the financial year, while it has increased by 2.84 per cent during the calendar year.
In the KMI-30 index, GHNI, PRL, GAL, LUCK and ATRL added positive points; however, the weak performance of MEBL, PPL, ENGROH, OGDC and SYS played a major role in keeping the overall index down.
According to market experts, investors are currently keeping a close eye on upcoming economic indicators, financial results of companies and policy decisions. They say that volatility in the market may persist in the short term; however, strong fundamental economic indicators and corporate results can play a major role in improving investor confidence. It is important to prioritise fundamental factors, risk management and sound financial advice in long-term investment decisions.
