Pakistan equities experienced a dip of 168 points in a day marked by range-bound trading activities, reflecting the prevailing volatility in the market.
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 43,807 points, indicating a decrease from 43,975 points recorded previously.
Analysts at Topline Securities noted that Pakistan equities oscillated within a range of 389 points throughout the day. The index reached an intraday high of 44,187 points, marking a gain of 211 points (up 0.48 per cent), while the low point touched 43,798 points, reflecting a decline of 178 points (down 0.40 per cent). Ultimately, the index settled at 43,807 points, recording a decrease of 168 points (down 0.38 per cent) for the day.
Trading activity at the bourse saw 148 million shares exchanged, with the total value amounting to Rs 2.99 billion.
Analysts at Arif Habib Limited attributed the range-bound session to political unrest. While the market opened in the green zone, it remained volatile throughout the day. Main board activity was subdued, while the third-tier stocks witnessed significant trading volumes. However, profit-taking in the last trading hour led to the index closing in the red zone.
Various sectors contributed to the day’s performance, with Energy & Petroleum (E&P) (-50.7 points), Cement (-21.8 points), Power (-20.9 points), Technology (-19.3 points), and Textile Composite (-17.4 points) among the major contributors to the decline.
Trading volumes decreased from 236.5 million shares to 148.5 million shares, representing a decline of 37.2 per cent compared to the previous day. Similarly, the traded value also decreased by 48.3 per cent to reach US$ 16.6 million, down from US$ 32.2 million.
Key stocks that significantly contributed to the day’s trading volumes included FLYNGR1, WTL, TPLP, UNITY, and KEL.
The decline in Pakistan equities reflects the ongoing market dynamics influenced by various internal and external factors. As market participants navigate through volatility, maintaining a cautious approach remains essential to mitigate risks and capitalize on emerging opportunities.
