KARACHI: Investors remained cautious on the first trading day of October at the Pakistan Stock Exchange, and the main indices came under pressure.
At the end of the trading session, the KSE-100 Index closed at 168,636 points after a decline of 1,332 points. The index also fluctuated during the day, and its overall movement was in the range of about 2,100 points.
A total of 540 million shares were traded in the market. The value of these deals was about Rs 17 billion. The downturn also affected the overall value of the stock market, and the market capitalisation decreased by Rs 151 billion to Rs 18,776 billion.
The current trend in the market is also being linked to the global economic and geopolitical situation. Concerns remain over global supply and prices of crude oil and diesel in the wake of ongoing tensions between Iran and the US.
Potential fluctuations in global energy prices are important for a country like Pakistan, which has import needs. Its impact can be felt on inflation, import costs and business expectations.
In this context, local investors also seem to be evaluating global developments and economic indicators rather than taking new positions in the market. This decline at the beginning of November is a reflection of the fact that external factors are currently affecting the trend of the local stock market.
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