Karachi: The Pakistan Stock Exchange (PSX) witnessed a volatile trading session as the market opened on a positive note but quickly lost momentum due to profit-taking at higher levels. The KSE-100 Index initially surged to an intraday high of 79,014 points, gaining 526 points, but the gains were eroded, and the index dipped to an intraday low of 78,240 points, down 248 points. The session closed at 78,398 points, reflecting a loss of 89 points.

According to JS Global, the market is expected to continue consolidating in the near term. Investors are advised to remain patient and focus on buying opportunities during market dips, particularly in the fertilizer, cement, oil and gas, and technology sectors.

The KSE-100 Index reported a year-to-date gain of 25.35% in CY24, while the KSE-30 Index recorded a 19.42% increase over the same period. However, on a day-over-day basis, the KSE-100 Index declined by 0.26%, and the KSE-30 Index fell by 0.45%.

Among the top gainers, FrieslandCampina Engro Pakistan Limited (FCEPL) rose by 9.99%, while Thal Limited (THALL) and Pakistan GasPort Limited (PGLC) gained 5.88% and 4.29%, respectively. Conversely, Youm Foods Limited (YOUW) experienced the steepest decline, falling by 17.12%, followed by International Industries Limited (INIL) and National Refinery Limited (NRL), which decreased by 7.91% and 6.69%, respectively.

Market capitalization stood at Rs 10,421.88 billion, with a total trading volume of 457.28 million shares, and the total value of shares traded was Rs 15.87 billion. The PSX market cap in US dollars was $37.46 billion.

In regional markets, China’s SSE Composite Index declined by 1.1%, while India’s BSE Sensex gained 0.2%. Other regional markets, including Indonesia’s Jakarta Composite Index (JKSE) and Korea’s KOSPI, showed modest gains of 0.3%.