Pakistan’s KSE-100 opens little changed at 147,621.50

Pakistan’s KSE-100 opens little changed at 147,621.50

The Pakistan Stock Exchange (PSX) opened the trading day with the KSE-100 index at 147,621.50, showing little change from the previous closing price [2]. This minor movement reflects a cautious market sentiment amid ongoing concerns over flood damage to agriculture in Punjab and a muted growth outlook signaled by the central bank [2].

The index experienced slight volatility during the session, with 151 stocks closing higher, 163 declining, and 23 remaining unchanged [2]. Major sectors such as banking and fertiliser saw significant selling pressure, while selective buying in companies like Sazgar Engineering, Lucky Cement, and United Bank helped to limit losses [2].

Investors remained cautious due to the potential impact of recent flooding on economic activity and the uncertainty surrounding the central bank's policy stance. The KSE-100 index fell 150.52 points, or 0.10%, to close at 147,343.51, reflecting a lack of direction during the week dominated by contract rollovers [2].

Analysts expect the market to remain range-bound in the near term, as investors continue to assess the potential economic impact of the floods and the central bank's monetary policy [2]. The KSE-100 index has been volatile, with the benchmark index ending the day nearly flat, driven by rollover week activity and investor concerns over potential flood risks [2].

References:
[1] https://www.investing.com/indices/karachi-100
[2] https://tribune.com.pk/story/2563883/psx-falls-slightly-over-flood-growth-worries