PMEX trading activity falls 13% to Rs33.3bn

July 15, 2024 (MLN): The trading activity at Pakistan Mercantile Exchange (PMEX) decreased by 13.13% DoD on Friday to clock in at Rs33.27 billion compared to the previous session's Rs38.3bn.

Similarly, the number of lots traded fell to 19,945, compared to the 22,713 traded in the previous session.

The commodity exchange closed at 10,472, down by 0.24% DoD.

The Metals category recorded the highest trading volume, worth Rs16.95bn.

Gold continued to stay in the spotlight, contributing significantly to the trading volume with transactions worth Rs13.18bn.

Moreover, the trading value of Silver, Copper, and Platinum clocked in at Rs1.95bn, Rs165.89m, and Rs1.6bn.

Following closely behind, Forex category recorded trading valued at Rs8.6bn. This included currencies through composite order trading system (COTS) worth Rs8.58bn and other FX pairs worth Rs22.89m.

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 Rs1.26bn. Transactions of Oil stood at Rs1.16bn, while Natural Gas transactions reached Rs97.56m.

In addition, Indices category attracted substantial attention from investors as well with a total volume of Rs6.42bn.

Within this category, US Exchange-Traded Funds (ETF) including Nasdaq, S&P 500, and DJ recorded volumes of Rs5.64bn, Rs113.66m, and Rs662.91m respectively.

In the Agriculture segment, Cotton saw active trading amounting to Rs27.62m.

Copyright Mettis Link News