KMI-30 Index down 995 points, investors cautious

The KMI-30 Index saw a significant decline during trading on Monday due to profit-taking, and the market closed down 995.51 points.

According to data released by the Pakistan Stock Exchange, the KMI-30 Index closed at 244,736.28 points, which is 0.41 per cent lower than the previous trading day.

The market opened at 244,457.57 points, while the index reached a high of 245,948.56 points during trading. However, the market later came down due to selling pressure and at one point saw a low of 243,286.97 points.

According to market experts, investors preferred to take profits after the recent rally, due to which the selling trend was dominant in the banking, cement and energy sectors.

According to the data, the total volume of shares of companies included in the index was recorded at 154 million shares, indicating active investment in the market.

The KMI-30 index was most negatively affected by the shares of Lucky Cement, which lost 420.60 points from the index. In addition, Engro Holdings lost 303.48 points; Meezan Bank, FCCL and Hubco also put negative pressure on the market.

On the other hand, Pakistan Petroleum Limited supported the index by 127.44 points, while Systems Limited gained 123.93 points. Engro Fertilisers, Sazgar Engineering and Fauji Foods were also among the companies that showed outstanding performance.

According to financial analysts, the local stock market has been volatile in recent days due to concerns about the global economic situation, oil prices, interest rates and inflation. However, liquidity in the market remains intact due to the interest of local investors.

According to the report, the KMI-30 index has shown a 32.37 per cent increase since the beginning of the financial year, while it is still in the negative zone of 1.53 per cent in terms of the calendar year.

Experts say that investors are now mainly preferring strong companies with stable earnings and better profit potential. In particular, the energy, fertiliser, technology and banking sectors have become the focus of investors.

According to market observers, corporate results, economic indicators and government policy decisions will determine the direction of the stock market in the coming days. If economic stability is maintained, the market can regain positive momentum.

Experts have advised investors to avoid emotional decisions and adopt a long-term investment strategy.