The Pakistan Stock Exchange (PSX) witnessed heavy selling pressure on Friday, with the benchmark KSE-100 Index losing nearly 1,100 points in early trade. At 10:10am, the index stood at 155,048.51, down 1,092.73 points or 0.7%.
Losses were led by major sectors including commercial banks, fertiliser, oil and gas exploration, refinery, and power generation. Among the hardest hit were index-heavy stocks such as NRL, HUBCO, MARI, OGDC, PPL, POL, MCB, MEBL, NBP, and UBL.
The dip followed Thursday’s bearish close when the market shed 879.55 points, or 0.56%, ending at 156,141.25. The back-to-back declines snapped the bullish momentum seen earlier in the week, as profit-taking dominated the trading floor.
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Market watchers said global cues offered little support. Although Asian markets tracked Wall Street higher amid expectations of imminent US rate cuts, local equities struggled to attract buyers. Rising volatility and uncertainty about economic fundamentals weighed on investor confidence.
With international investors closely watching Federal Reserve policy, Pakistan’s stock market remains vulnerable to shifts in global liquidity. Analysts warn that sustained outflows from heavyweight sectors could deepen the correction unless local sentiment improves.