Economic uncertainty continues to weigh heavily on the Islamic index at the PSX, as the KMI-30 closed the day with a significant loss of 4,583 points. The 1.92% drop reflects a cautious sentiment among investors as the Calendar Year to Date (CYTD) return remains in negative territory at -5.81%.
The market wrap for April 30 shows that index constituent volume stood at 141.71 million shares. Experts pointed toward the poor performance of the Oil & Gas sector, with OGDC and PPL collectively dragging the index down by over 1,100 points.
”The volatility was high, with a nearly 6,000-point spread between the day’s high and low,” noted a capital market analyst. While the Fiscal Year to Date (FYTD) performance remains positive at 26.62%, today’s correction has erased significant short-term gains.
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