Trading at the Pakistan Stock Exchange (PSX) fell sharply on Thursday as the KSE-100 index and KMI-30 index closed down on a heavy sell-off by investors. The trading at the Pakistan Stock Exchange (PSX) closed sharply lower on Thursday, with both the KSE-100 index and KMI-30 index closing down significantly following heavy selling by investors. Heavy selling of big banks, fertiliser and energy stocks resumed during the day.
At the end of the trading session, the KSE-100 index closed at 171,739.45 points, down 2,690.48 points or 1.54 percent. The index recorded a high of 175,237.60 points, while its low was 171,655.09 points. A total of 242.21 million shares were traded in the companies that make up the index.
The KMI-30 index also failed heavily and fell 3,889.84 points, or 1.59 percent to close at 241,390.67 points. The maximum price of the index for the trading session has been 246,390.68 points, the minimum point is 241,208.26 points. The number of shares traded in companies in this index totalled 102.03 million.
According to the data, since the beginning of the current financial year, the performance of the KSE-100 index has been 4.75 percent negative and 1.33 percent negative in terms of calendar year. Meanwhile, on a calendar year basis, the financial annual performance of the KMI-30 has been noted as negative 6.19 percent and negative 2.88 percent, respectively, which has been an indication of the weak performance of the market.
Among the individual companies, ATRL, AIRLINK, CNERGY, BWCL and NESTLE offered less support to the KSE-100 index while UBL, FFC, ENGROH, LUCK and HUBC were among the major companies which were most detrimental to the KSE-100 index.
Likewise, the poor performance of ENGROH, LUCK, FFC, HUBC and OGDC contributed significantly to the decline in the index in KMI-30.
Current market indicators, company earnings, interest rates, and the economy are all hot topics among investors, according to market analysts. These basic economic conditions, as well as investor confidence, will influence the market direction during the next trading sessions, according to experts.
This report is provided for information only and not intended to be investment advice. Professional financial advice is recommended prior to investment.