The Pakistan Stock Exchange witnessed a bearish trend on the last trading day of the week, where the KMI-30 index closed at 241,041 points after sharp fluctuations. The overall negative atmosphere in the market remained due to cautious strategy of investors and selling pressure in large shares.
According to the data, the KMI-30 index recorded a decline of 1,308.61 points, while the index fell 0.54 percent. During the trading, the index reached a high of 243,973 points, but later fell due to selling pressure.
According to analysts, after the recent rally, investors preferred to take profits by adopting a cautious approach. This trend particularly affected the shares of the energy, cement and technology sectors, resulting in pressure on the market.
The companies that had the most negative impact on the market included Lucky Cement, Engro, OGDCL, Pakistan State Oil and Systems Limited. The decline in the shares of these companies pushed the overall index down significantly.
On the other hand, some companies provided partial support to the market by showing positive performance. Effert added about 96 points to the index, while shares of Pakistan Petroleum Limited, Airlink and Ghani Glass also saw improvement.
According to experts, investors are currently focused on the developments related to the national budget, IMF negotiations, interest rates and the value of the rupee. Due to these factors, there is uncertainty in the market, due to which investors are avoiding major decisions.
In terms of trading volume, 72.56 million shares were traded in the shares of the KMI-30 index. Financial experts say that although the market is under pressure in the short term, the increase of more than 30 percent in the index since the beginning of the financial year reflects investor confidence.
He said that the ongoing geopolitical tensions at the global level, fluctuations in crude oil prices and the political situation in the region are also affecting the local market. Especially the increasing tension in the Middle East has made global investors cautious.
Analysts say that if positive indicators related to economic stability and government policies emerge in the coming weeks, the stock market may rebound. According to them, shares of fundamentally strong companies still remain the focus of attention for long-term investment.
He added that investors should make decisions by reviewing the fundamental indicators of the market and the financial performance of companies instead of being afraid of short-term fluctuations
