Negative sentiment dominated trading at the Pakistan Stock Exchange (PSX) as tensions in the Gulf region continued to intensify, pushing the market lower by the end of the week. On Friday, the benchmark KSE-100 Index declined by 2.3%.
By the close of trading, the KSE-100 Index stood at 157,496.10, reflecting a drop of 3,714.57 points.
According to Topline Securities, the main drag on the index came from stocks including UBL, ENGROH, FFC, LUCK, HUBC, MEBL, SYS, OGDC, and BAFL, which together shaved off 2,124 points from the benchmark.
This downturn followed a strong rally a day earlier. On Thursday, the PSX experienced one of its most noteworthy surges in recent sessions, with the KSE-100 Index jumping more than 5,400 points.
The index finished that session at 161,210.68, marking an increase of 5,433.46 points, or 3.49%.
Meanwhile, the Pakistani rupee recorded a slight appreciation against the US dollar in the inter-bank market on Friday. The currency closed at 279.40 per dollar, strengthening by Rs0.01 compared to Thursday’s closing rate of 279.41.
