Volatility Grips Market as Investors Book Profits on Strength
The local bourse experienced a highly volatile session today, oscillating in both directions throughout the trading day. The KSE-100 Index posted an intraday high of 816 points and a low of 1,115 points before finally closing at 166,553, down 793 points or 0.47%.
The choppy performance reflected investors’ inclination to book profits on strength following the recent rally, as participants opted to secure gains amid mixed sectoral performance and a cautious tone prevailing in the market.
Losses were primarily driven by FFC, UBL, MCB, HBL, and FATIMA, which collectively shaved 647 points off the benchmark index. However, the downside was partially cushioned by gains in PPL, OGDC, PSX, BOP, and SNGP, which together added 306 points.
Investor activity remained robust, with total traded volumes surging to 1,567 million shares, while overall market turnover reached an impressive Rs. 55 billion. KEL led the volume chart with 241 million shares changing hands.
PSX 100 index opened on Wednesday with a gain of 427 points in early trading hours. It was up 0.25 percent to 167774 points.
On Tuesday, the KSE-100 Index wrapped up the session on a strong footing, closing at 167,346 points after registering gain of 1,103 points. The market sustained its upward momentum following the ceasefire announcement, with the index oscillating between an intraday high of 168,414 and a low of 166,923.
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The bullish trend was largely fuelled by exceptional performances in BAHL, FFC, MCB, OGDC, and PPL, which collectively added 830 points to the benchmark index. However, the overall advance was modestly curtailed by profit-taking in ENGROH, KEL, and UBL, subtracting a combined 161 points.
Investor confidence remained elevated, as reflected in the heightened trading activity. Total volume surged to 1,816 million shares, while market turnover climbed to a substantial Rs. 56.7 billion.
