Karachi: The Pakistan Stock Exchange (PSX) opened the trading week on Monday with major benchmark indices closing in the red on selling pressure in the banking, energy and fertiliser sectors.
At the close of the market, the KSE-100 index closed at 168,953.71 points, down 1,525.24 points, representing a decline of 0.89 percent over the previous session.
According to data, the index touched a high of 169,360.55 points and a low of 168,432.46 points during the day. The total volume of shares of companies associated with the index was recorded at 137.85 million shares.
On the other hand, the KMI-30 index, a proxy for Islamic investment, also remained in the negative zone and closed at 241,458.68 points, down 2,459.18 points. This decline is 1.01 percent on a daily basis.
The KMI-30 index recorded a high of 242,278.20 points and a low of 240,600.79 points during trading hours. The trading volume of the shares of the relevant companies was 47.12 million shares.
Market data showed that a few select companies tried to support the indices. In the KSE-100, PSEL, JVDC and PSX were the prominent positive contributors, gaining 87.20, 65.37 and 28.58 points, respectively.
On the contrary, UBL, ENGRO, FFC, HBL and PPL were the most negative contributors to the index, contributing to a decline of hundreds of points overall.
AIRLINK was the most prominent positive performer in the KMI-30 index, gaining 18.35 points, while ENGRO, PPL, HUBC, LUCK and FFC were the major drivers of the decline.
According to financial experts, investors adopted a cautious strategy due to recent economic indicators, profit-taking and uncertainty in some sectors. They say that the fundamental direction of the market is still linked to economic reforms, interest rate trends and foreign investment flows.
Since the beginning of the year, the KSE-100 index has maintained a profit of 34.49 percent while the KMI-30 index has maintained a profit of 30.60 percent, which reflects the confidence of investors on a long-term basis.
Market observers say that in the coming sessions, investors will closely monitor developments related to the budget, economic policies, and corporate results.
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