RECORDER REVIEW

KARACHI: Futures trading at the Pakistan Stock Exchange (PSX) recorded a sharp increase during the outgoing week, with derivative activity accelerating across both volume and value indicators despite a largely range-bound performance in the broader equity market.

According to market data for the week ending November 21, 2025, Futures Average Daily Traded Volume (ADTV) rose 28.4 percent week-on-week, climbing to 225.05 million shares compared with 175.30 million shares in the preceding week.

In value terms, Futures ADTO increased to Rs9.85 billion, up from Rs9.51 billion, reflecting a steady rise in speculative and hedging positions as investors reacted to mixed macroeconomic indicators and increased momentum on the ready counter.

The futures spread expanded sharply to 11.17 percent, up from 5.67 percent last week—an increase of 550 basis points. The wider spread indicates stronger demand for leveraged positions and heightened expectations of short-term volatility.

Analysts note that the jump in futures turnover came amid a 37 percent rise in ready market traded volumes and persistent investor interest in leveraged plays, particularly in technology, banking, and power stocks, which collectively dominated overall market turnover.