PMEX trading activity falls 6% to Rs23.6bn

July 30, 2024 (MLN): The trading activity at Pakistan Mercantile Exchange (PMEX) decreased by 5.75% DoD on Monday to clock in at Rs23.6 billion compared to the previous session's Rs25.04bn.

Similarly, the number of lots traded fell to 17,112, compared to the 17,128 traded in the previous session.

The commodity exchange closed at 10,008, up by 0.23% DoD.

The Metals category recorded the highest trading volume, worth Rs14.3bn.

Gold continued to stay in the spotlight, contributing significantly to the trading volume with transactions worth Rs12.53bn.

Moreover, the trading value of Silver, Copper, and Platinum clocked in at Rs479.13m, Rs92.25m, and Rs1.15bn.

Following closely behind, Forex category recorded trading valued at Rs4.85bn. This included currencies through composite order trading system (COTS) worth Rs4.81bn and other FX pairs worth Rs42.79m.

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 Rs1.02bn. Transactions of Oil stood at Rs876.34m, while Natural Gas transactions reached Rs139.57m.

In addition, Indices category attracted substantial attention from investors as well with a total volume of Rs3.28bn.

Within this category, US Exchange-Traded Funds (ETF) including Nasdaq, S&P 500, and DJ recorded volumes of Rs2.45bn, Rs239.33m, and Rs590.48m respectively.

In the Agriculture segment, Cotton saw active trading amounting to Rs36.47m.

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