Karachi: Thursday’s trading session at the Pakistan Stock Exchange (PSX) ended on a negative note, with investors’ cautious strategy and selling pressure in selected large-cap stocks holding both the major indices lower. Despite the volatility during the session, the market could not maintain the positive momentum and closed with losses in the closing stages.
According to official market data, the KSE-100 index closed at 175,547.98 points after a decline of 495 points, down 0.28 percent from the previous session. During the session, the index also saw a high of 176,234.29 points and a low of 174,612.15 points, indicating that the market remained volatile throughout the day.
In terms of trading volume, 222.46 million shares were traded in selected stocks of the KSE-100 index. The prominent positive performers included FFC, UBL, EFERT, MEBL and PSX, which tried to support the index. On the other hand, the weak performance of Engro Holdings, Lucky Cement, Systems Limited, Hub Power and Pakistan Petroleum Limited (PPL) negatively impacted the overall market.
Meanwhile, the KMI-30 index also remained under pressure and closed at 246,569.22 points, down 1,488.01 points or 0.60 percent. The index recorded a high of 248,210.36 points and a low of 245,433.87 points during the session, reflecting the cautious attitude of investors.
According to analysts, profit-taking in shares of major companies in the market, global economic trends and cautious investment by investors affected business activities. They say that corporate results, economic indicators and improvement in investor confidence can play an important role in determining the direction of the market in the coming sessions.
Market experts further said that while a one-day decline is not a definitive indicator of the overall investment trend, investors will be keeping a close eye on trading volumes, institutional investment and key economic developments in the coming days. The future performance of the Pakistan Stock Exchange will be linked to the country’s economic environment and investor confidence.
We welcome your contributions to The Pakistan Observer. Submit your blogs, opinion pieces, press releases and news features to our editorial team.
Please send your submissions to our News Desk or Editorial team. We look forward to hearing from writers, journalists and contributors.
