KMI-30 Market Wrap: PSX Shariah Index Falls 0.62% as Energy Stocks Lead Losses

The KMI-30 Index closed lower on Friday as selling pressure in major energy stocks dragged the Shariah-compliant benchmark into negative territory.

At the close of trading at the Pakistan Stock Exchange, the index settled at 235,325.12, down 1,468.03 points from the previous session.

Intraday Movement

The market opened at 234,929.38 and quickly moved higher, reaching 237,589.79 during early trading hours. However, profit-taking reversed gains and pushed the index to an intraday low of 231,932.08 before partial recovery.

The overall percentage decline stood at 0.62 percent.

Sector Analysis

The energy sector remained under pressure, with OGDC and PPL recording significant losses. Investors appeared cautious amid fluctuating global oil prices and local economic signals.

The fertilizer and technology sectors also faced selling pressure, with FFC and SYS contributing negatively.

On the positive side, ENGRO posted strong gains, emerging as the top positive contributor. Meezan Bank (MEBL) also attracted buying interest, supporting the index.

Trading Activity

The total volume of 71.27 million shares shows that activity remained steady. Market observers believe that institutional investors were active in repositioning portfolios.

Broader Market Perspective

The fiscal year-to-date return of 27.28 percent suggests that the broader trend remains healthy. However, the calendar year-to-date decline of 5.32 percent highlights recent volatility.

Experts say such fluctuations are common in equity markets and often create buying opportunities for long-term investors.

Investor Guidance

Analysts recommend focusing on company fundamentals, earnings outlook, and sector performance rather than reacting to daily swings.

The KMI-30 continues to serve as a benchmark for Islamic equity investments in Pakistan, reflecting the performance of 30 Shariah-compliant companies listed on the PSX.