A stock broker reacts while monitoring the market on the electronic board displaying share prices during trading session at the Pakistan Stock Exchange, in Karachi on July 3, 2023. Photo: Reuters/ File
The Pakistan Stock Exchange (PSX) on Friday witnessed subdued trading activity and cautious investor participation, with the KSE-100 closing at 168,155, down 481 points or 0.29% DoD.
According to Ahmed Sheraz of KASB KTrade, the benchmark index remained volatile while 147 million shares were traded. Selling was concentrated in commercial banks, technology, cements and selected fertiliser stocks, while oil and gas provided some support.
SYS, MEBL, LUCK, NBP and HBL dragged the index whereas UBL, MARI and OGDC offered support. Volume activity remained subdued, with KEL, PIBTL, and CNERGY emerging as the top volume leaders.
Read: PSX loses 1,332 points amid selling pressure
The mixed sectoral performance reflected cautious investor positioning as market participants continued to weigh domestic political developments alongside external geopolitical and oil-price risks.
Going forward, sentiment is likely to remain cautious amid local political noise, particularly negotiations between the government and the opposition aimed at reducing tensions. Internationally, the United States-Iran situation and uncertainty around the Strait of Hormuz remain key risks for oil supply and prices.
"We expect the KSE-100 to remain volatile, with oil prices, geopolitical developments and progress on domestic political negotiations driving near-term direction," Sheraz said.
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