Thursday’s trading session at the Pakistan Stock Exchange (PSX) ended on a negative note, with investors adopting a cautious approach while selling pressure in a few major stocks affected the overall direction of the market. There was volatility during the trading session, however, both the major indices closed with losses by the end.
According to official data, the KSE-100 index closed at 175,547.98 points, down 495 points or 0.28 percent. The index started the day at 175,141.64 points, touched a high of 176,234.29 points and a low of 174,612.15 points during the trading session. During this period, the total trading volume of shares of companies included in the index was recorded at 222.46 million shares.
In the market, FFC, UBL, EFERT, MEBL and PSX played a significant role in supporting the index, however, pressure in shares of Engro Holdings, Lucky Cement, Systems Limited, Hub Power and Pakistan Petroleum Limited (PPL) played a significant role in keeping the overall market down.
Similarly, the KMI-30 index also closed in the negative zone. The index fell by 1,488.01 points or 0.60 percent to 246,569.22 points. Its highest level during the trading session was 248,210.36 points while its lowest level was 245,433.87 points, reflecting the cautious attitude of investors.
FFC, EFERT, MEBL, ATRL and NRL were the prominent stocks showing positive performance in the KMI-30 index, while Engro Holdings, Lucky Cement, Systems Limited, Hub Power and PPL had the most negative impact on the index.
According to experts, in the recent session, investors preferred to take profits in large stocks, while limited buying in some sectors did not provide sufficient support to the market. They say that in the coming days, corporate financial results, economic indicators, interest rate expectations and investor confidence levels can play an important role in determining the future direction of the market.
Analysts say that a one-day downturn cannot be considered a long-term trend, but it is important for investors to take into account fundamental economic factors, financial performance of companies and the overall trend of the market while making investment decisions. Overall, the market remained active, but selling pressure prevailed over buying at the end of the business, due to which both the major indices closed at negative levels.