Karachi: The Pakistan Stock Exchange (PSX) witnessed a very mixed and cautious trend during the trading session on September 1. Profit-taking in the market led to the benchmark KSE-100 index and the KSE-30 index covering blue-chip companies closing in the negative zone, while the Sharia-compliant KMI-30 index maintained a modest positive trend despite the general market pressure.
According to the official trading data of the Pakistan Stock Exchange, the KSE-100 index closed at 176,466.99 points, down 508.68 points or 0.29 percent. The index had touched a high of 177,800.28 points in early trade, but fell to a low of 176,375.00 points after a sell-off in the middle of the session.
Similarly, the KSE-30 index, which comprises the 30 most liquid and active companies, also remained under bearish pressure.Â
According to market analysts, selling pressure was seen in some shares of cement and oil and gas, besides the commercial and commercial banking sector, in the trading session. Investors preferred to book profits in Meezan Bank (MEBL), Lucky Cement (LUCK), DG Khan Cement (DGKC) and Pakistan Petroleum (PPL), which affected the balance of the main index.
Contrary to this negative trend, continuous buying was seen in some selected shares of technology and fertilizers. Systems Limited (SYS), Engro Holdings (ENGROH) and Engro Fertilizers (EFERT) played a key role in supporting the index. Their positive impact was more on the Sharia-compliant KMI-30 index, which closed at 251,849.49 with an increase of 192.66 points (0.08 percent).
The overall market trading volume during the session was 784.47 million shares. The KSE-100 index saw a turnover of about 391.91 million shares, valued at Rs 21.09 billion. A total of 174 companies recorded an increase in share prices and 292 companies recorded a decrease. Experts believe that the market direction will become clearer in the coming trading days in light of fundamental economic indicators.
