The first day of trading on the Pakistan Stock Exchange started with a slightly positive atmosphere; however, as the day progressed, caution prevailed on the part of investors, and the market fluctuated in a limited range. At the end of the session, the PSX-100 Index closed down by about 120 points.
In the early hours, the index touched a level of over 162,000 at one point, but in the afternoon, pressure was seen on it due to profit-taking activities and weak triggers, which led to the index retreating. Overall, low volume and a cautious trend dominated the business activities.
Market experts said that the futures rollover this week has made investors more cautious, and they are waiting for new policy signals or economic data to become clear. The banking, cement and fuel exploration sectors saw a mixed trend, which limited the index’s momentum.
According to analysts, the PSX is likely to remain in the same limited range in the near term, and large-cap stocks are likely to continue range-trading. Any clear direction in the market will come only when there is a sudden change in government policy, interest rates or corporate results.
