Karachi
KSE-100 Index of the Pakistan Stock Exchange (PSX) experienced a bearish trend on Monday (April 1), with a loss of 208.79 points, marking a negative change of 0.31 per cent. It closed at 66,796.32 points, compared to its previous closing of 67,005.11 points on Friday.
According to analysts, the trading pattern of the Index on that day displayed mixed performance, fluctuating between intraday highs and lows of 67,304 and 66,741 points, respectively. They attributed the downward trajectory in the stock market to various domestic and global factors influencing investor sentiment, including economic uncertainties, geopolitical tensions, and commodity price fluctuations.
Trading activity saw 238,829,562 shares valued at Rs8.365 billion changing hands during the day, in contrast to the previous day’s 313,035,305 shares valued at Rs9.899 billion. A total of 335 companies participated in the stock market, with 139 recording gains, 176 sustaining losses, and the share prices of 20 remaining unchanged.
In the futures market, 309 companies engaged in trading, with 95 registering gains, 202 witnessing losses, and the share prices of 12 companies remaining stagnant.
In future market, as many as 309 companies traded shares in the market, out of which 95 recorded gains, 202 witnessed losses whereas share prices of 12 companies remained unchanged.
Notably, the top three trading companies on that day were PIAC (A) with 39,967,500 shares at Rs29.28 per share, Agritech Limited with 31,101,500 shares with Rs28.33 per share, and PTCL with 21,231,631 shares at Rs16.94 per share.
Rafhan Maize Products Company Limited witnessed a maximum increase of Rs75.00 per share price, closing at Rs8,250.00, whereas the runner-up was Hallmark Company Limited with a Rs34.42 rise in its per share price to Rs536.47. Sapphire Fibres Limited witnessed a maximum decrease of Rs95.00 per share closing at Rs1,405.00, followed by Mari Petroleum Company Limited with Rs19.48 decline to close at Rs2,517.51.
Several sectors, including Oil & Gas, IT, Textile, and Cement, contributed negatively to the index’s movement. Companies such as OGDC, SYS, PTC, LUCK, and ILP collectively shed 133 points. Conversely, HUBC, MEBL, and FABL made positive contributions, adding a combined total of 67 points.
As the stock market navigates through uncertainties, investors are advised to exercise caution and conduct thorough research before making investment decisions. Diversification, risk management, and a long-term investment horizon are essential principles for navigating the dynamic landscape of the stock market.