PSX struggles to hold early gains amid choppy trading 

KARACHI: The Pakistan Stock Exchange (PSX) began the week on a volatile note, as the benchmark KSE-100 index initially opened in positive territory but quickly lost ground within minutes of the opening bell. 

At the start of trading, the index moved into the green and was recorded at 119,290.94 points by 9:32 AM, reflecting a gain of 188.27 points. Trading volume at that time stood at 74.23 million shares. However, the momentum could not be sustained, and the market slipped into negative territory within the first 10 minutes. By 9:38 AM, the index had dropped to 118,652.66, shedding over 450 points, with volume increasing to 127.59 million shares. 

The instability followed Friday’s closing, where the benchmark index had ended the session at 119,102.67 points. The market showed signs of recovery around 9:50 AM and briefly returned to positive territory. However, that attempt was also short-lived, as the index once again turned red before 10:00 AM, registering a loss of 22 points. 

In early trade, notable gainers in terms of percentage included K-Electric Limited (KEL), which surged by 21.19 per cent or Rs1 to Rs5.72. Hira Textile Mills Limited (HIRAT) climbed 18.04 per cent or Rs0.59 to Rs3.86, while Siddiqsons Tin Plate Limited (STPL) rose by 11.30 per cent or Rs0.65 to Rs6.40. On the other hand, Reliance Cotton Spinning Mills Limited (RCML) saw a decline of 9.25 per cent or Rs47 to Rs461. Husein Industries Limited (HUSI) was down 8.96 per cent or Rs2.57 to Rs26.10, and Sindh Abadgars Sugar Mills Limited (SASML) fell by 8.96 per cent or Rs5.62 to Rs57.10. 

As of 10:19 AM, the KSE-100 index had posted a one-year gain of 56.86 per cent. On a year-to-date basis, the index was up by 3.53 per cent. Over the last 52 weeks, the PSX has traded between a low of 71,781.96 and a high of 120,796.67 points. 

By 10:26 AM, the market had again turned positive, with the KSE-100 index gaining 130.03 points to reach 119,232.70, showing a rise of 0.11 per cent. Trading volume had reached 215.97 million shares. 

Previous session wrap 

In the previous session on Friday, the benchmark index had closed at 119,102.67, down by 50.37 points or 0.04 per cent. The index moved within a range of 877.26 points during the session, reaching an intraday high of 119,542.51 and a low of 118,665.25. Total volume for the KSE-100 index stood at 99.80 million shares. 

In the broader market, the All-Share Index closed at 74,155.62, posting a marginal gain of 7.82 points or 0.01 per cent. Total market volume was recorded at 337.99 million shares, down significantly from 589.77 million in the previous session. The traded value stood at Rs18.51 billion, reflecting a drop of Rs12.30 billion. 

Read next: Oil prices rise as Trump extends EU trade talks deadline