PMEX trading activity falls 17.5% DoD

July 18, 2024 (MLN): The trading activity at Pakistan Mercantile Exchange (PMEX) decreased by 17.52% DoD on Wednesday to clock in at Rs27.44 billion compared to the previous session's Rs33.27bn.

Similarly, the number of lots traded fell to 19,035, compared to the 19,945 traded in the previous session.

The commodity exchange closed at 10,395, down by 0.03% DoD.

The Metals category recorded the highest trading volume, worth Rs16.74bn.

Gold continued to stay in the spotlight, contributing significantly to the trading volume with transactions worth Rs12.71bn.

Moreover, the trading value of Silver, Copper, and Platinum clocked in at Rs1.76bn, Rs263.34m, and Rs1.96bn.

Following closely behind, Forex category recorded trading valued at Rs5.75bn. This included currencies through composite order trading system (COTS) worth Rs5.71bn and other FX pairs worth Rs45.64m.

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 Rs1.09bn. Transactions of Oil stood at Rs908.23m, while Natural Gas transactions reached Rs180.48m.

In addition, Indices category attracted substantial attention from investors as well with a total volume of Rs3.82bn.

Within this category, US Exchange-Traded Funds (ETF) including Nasdaq, S&P 500, and DJ recorded volumes of Rs3.08bn, Rs236.14m, and Rs505.7m respectively.

In the Agriculture segment, Cotton saw active trading amounting to Rs11.05m.

Copyright Mettis Link News