Cautious stance of investors kept the benchmark confined, reflecting wait-and-see approach ahead of clearer triggers
Revision in CGT structure, increase in tax rates will hurt trading volumes on PSX. PHOTO: AFP
The Pakistan Stock Exchange wrapped up Monday’s session on a subdued note, with the benchmark KSE-100 index ending slightly in the red as investor sentiment remained cautious in the absence of strong triggers to drive a decisive move.
Trading activity stayed largely range-bound with the index touching a day’s high of 172,167 and a low of 170,859, indicating a lack of strong directional conviction. Participants appeared selective, opting for stock-specific positions rather than broad-based exposure.
Sector-wise performance was mixed throughout the session. While selling pressure was largely seen in the banking, fertiliser, energy, cement, and power sectors, certain stocks such as investment and food sectors managed to attract buying interest.
Overall, the cautious stance of investors kept the benchmark confined, reflecting a wait-and-see approach ahead of clearer triggers. Subsequently, the bourse closed at 171,204 points, down 200 points (0.12%), after fluctuating within a narrow intraday range and settled at 171,204.18.
In its market wrap, KTrade Securities observed that PSX began the rollover week on a subdued note, with range-bound trading and relatively low volumes in the regular counter. The KSE-100 index slipped by 200 points, -0.12% day-on-day (DoD) to close at 171,204.
Among big chips, selling pressure was observed in Habib Bank, United Bank, Fauji Fertiliser, Pakistan State Oil, Cherat Cement, and Hub Power, while selective support came from Lucky Cement, Engro Holdings, Fatima Fertiliser, and Rafhan Maize Products, it said.
Despite the marginal decline, market participation remained reasonable, with all-share volumes recorded at 682 million shares, indicating adequate liquidity and continued investor interest. Looking ahead, the broader market outlook remains constructive on the back of improving macroeconomic conditions following the State Bank of Pakistan’s (SBP) policy rate cut.
However, with rollover activity underway amid a shortened trading week, market participants are expected to remain cautious in the near term, KTrade predicted.
Overall trading volume decreased to 684.5million shares versus previous session’s tally of 797.5million. Vale of traded stocks stood at Rs30.1billion. Shares of 486 companies were traded. Of these, 143 jumped, 288 declines and 55 remained unchanged. K-Electric was the volume leader with trading in 112.7million shares, rising Rs0.25 to close at Rs6.10.
