The Pakistan Stock Exchange (PSX) registered a sharp decline at the end of the trading session on Friday as benchmark KSE-100 Index plunged over 2,475 points before trading was closed.
According to details, KSE Index stood at 178,922, reflecting a significant loss of 2,475 points from Thursday’s close of 181,398.21.
A total of 564 companies traded shares in the stock market. Shares of 329 companies declined and shares of 141 companies rose. Shares worth more than Rs 1 billion were traded in the stock market.
Earlier, PSX opened on a positive note, touching an intraday high of 182,185.87, building on yesterday’s positive performance where the KSE-100 had gained around 887 points. However, selling pressure intensified soon after, driving the Index to a low of 178,489.02. Heavy trading activity was recorded with volume reaching approximately 283.7 million shares and a total value of Rs22.67 billion.
Analysts attribute the decline to profit-taking after recent gains, coupled with cautious investor sentiment amid ongoing global uncertainties and domestic macroeconomic considerations.
Sectors like banking, energy, and textiles saw mixed movements, with some blue-chip stocks facing notable pressure. The broader market showed 307 advancing issues against 137 decliners earlier in the session, but momentum shifted rapidly toward the downside.
Reporter: Ashraf Khan