PMEX trading activity falls 13.6% to Rs18.8bn

July 23, 2024 (MLN): The trading activity at Pakistan Mercantile Exchange (PMEX) decreased by 13.62% DoD on Monday to clock in at Rs18.81 billion compared to the previous session's Rs21.77bn.

Similarly, the number of lots traded fell to 13,265, compared to the 17,454 traded in the previous session.

The commodity exchange closed at 10,244, up by 0.29% DoD.

The Metals category recorded the highest trading volume, worth Rs10.44bn.

Gold continued to stay in the spotlight, contributing significantly to the trading volume with transactions worth Rs8.39bn.

Moreover, the trading value of Silver, Copper, and Platinum clocked in at Rs579.33m, Rs207.17m, and Rs1.09bn.

Following closely behind, Forex category recorded trading valued at Rs3.51bn. This included currencies through composite order trading system (COTS) worth Rs3.41bn and other FX pairs worth Rs99.48m.

To note, COTS enables simultaneous trading positions. For example, a trader can go long on PMEX USD Gold and short on PMEX EUR Gold with a single order. This effectively cancels the gold positions, leaving an open EUR-USD position.

Energy category recorded the third highest value traded worth Rs787.18m. Transactions of Oil stood at Rs671.48m, while Natural Gas transactions reached Rs115.69m.

In addition, Indices category attracted substantial attention from investors as well with a total volume of Rs4.04bn.

Within this category, US Exchange-Traded Funds (ETF) including Nasdaq, S&P 500, and DJ recorded volumes of Rs3.69bn, Rs175.63m, and Rs169.48m respectively.

In the Agriculture segment, Cotton saw active trading amounting to Rs29.54m.

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