Although business activities at the Pakistan Stock Exchange started on Wednesday in a balanced manner, the selling trend by investors increased as the day progressed, resulting in severe pressure on the market. At the end of the business, both the major indices, KSE-100 and KMI-30, closed with a loss of thousands of points, while shares of several major companies recorded significant declines.
According to official data, the benchmark KSE-100 index opened at 184,405.87 points and reached a high of 185,215.56 points in the early hours, but later the index continued to fall due to increasing selling pressure. At the end of the day, the index closed at 181,629.37 points, which is 4,626.18 points or 2.48 percent lower than the previous trading day. During this period, the total trading volume of the shares of the companies included in the index was recorded at 571.94 million shares.
During the trading session, ATRL, IBFL, CNERGY, JDWS and COLG showed limited positive performance; however, selling pressure remained high in UBL, FFC, ENGROH, LUCK and HUBC, which pushed the overall index down significantly.
The KMI-30 index, which represents Islamic investments, was also under the same trend. The index opened at 260,857.53 points, reached a high of 261,896.60 points during trading, but later saw a low of 253,796.57 points due to heavy selling. At the end of trading, the index closed at 256,369.points andts, which shows a decrease of 6,638.08 pointtrading butrcent compared to the previous session. The trading volume of shares of companies included in the index stood at 237.08 million shares.
Market data shows that ATRL, PRL and NRL tried to support the index, but significant declines in ENGROH, LUCK, FFC, HUBC and PPL had a negative impact on the overall market.
Financial experts say that investors adopted a cautious approach in the recent session, while profit booking in some sectors also added pressure to the market. According to them, in the next few trading sessions, investors will focus on economic indicators, corporate financial results, government policies and global financial trends, which can play an important role in determining the direction of the market.
According to market analysts, it would be premature to call a one-day decline a long-term trend; however, the current situation reflects that investors are currently preferring a cautious strategy over new investments.