Karachi: The KMI-30 index closed in the negative zone during trading on Friday at the Pakistan Stock Exchange (PSX), where investors adopted a cautious approach and selling pressure in major sectors affected the overall performance of the market.
At the end of the market, the KMI-30 index closed at 243,917.86 points, down 1,524.88 points. At the beginning of the day, the index opened at 246,302.09 points and reached a high of 246,889.30 points during trading. However, later, due to increasing selling trend, the index fell to a low of 243,644.06 points.
According to the data, the index recorded a decrease of 0.62 percent, while the total volume of shares of companies included in the index was 73.26 million shares. Although the market remained under pressure on a daily basis, the KMI-30 index has delivered a positive return of 31.93 percent since the beginning of the financial year, reflecting investor confidence and improvement in some fundamental indicators of the economy.
GAL, SAZEW, PAEL and PSO were the prominent stocks that showed positive performance during today’s trading. GAL added 34.97 points to the index while SAZEW contributed 17.88 points, PAEL 15.83 points and PSO contributed 7.31 points.
On the other hand, OGDC, PPL, MEBL, MARI and LUCK proved to be the stocks that had the most negative impact on the index. OGDC contributed 275.57 points while PPL lost 272.51 points, MEBL lost 157.89 points, MARI lost 148.18 points and LUCK lost 128.10 points.
According to market experts, the current decline needs to be seen in the context of the broader economic scenario. They say that the market has witnessed a significant upswing in the past few months, after which profit-taking activities by investors are a natural thing.
Analysts say that the stability in the country’s economy, reduction in inflation and measures to regulate finances can help maintain investor confidence. If these trends continue, the market can take a positive direction again in the medium and long term.
Economic circles believe that despite the recent volatility, there are fundamental possibilities in Pakistan’s capital market and investors are keeping a close eye on future economic indicators and government policy measures.
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