KARACHI: After opening on a strong note earlier in the day, the Pakistan Stock Exchange (PSX) slipped into negative territory by mid‑session on Friday, with the benchmark KSE‑100 Index losing 306 points to stand at 176,285.31.
Midday Pressure After Early Gains
The market, which had surged over 840 points at the opening bell, saw profit‑taking and renewed selling pressure as the session progressed.
The All‑Share Index edged down 19 points to 107,103.04, while the KSE‑30 shed 127 points to 52,339.88. The banking index recorded the sharpest decline, dropping 322 points to 49,814.12, reflecting weakness in financial stocks.
Trading activity remained brisk, with volumes exceeding 168 million shares and a value of Rs8.65 billion across more than 106,000 trades. Out of 565 active symbols, 245 advanced, 209 declined and 111 remained unchanged, showing a mixed investor mood.
Sentiment and Outlook
Analysts observed that the reversal was largely driven by profit‑taking after the morning’s rally, coupled with caution over external economic pressures.
While the KMI‑30 index managed to hold relatively steady, broader sentiment turned cautious amid concerns about inflationary trends and global oil market volatility.
The midday downturn underscores the fragility of investor confidence, with market watchers noting that sustainability of gains will depend on fiscal clarity and political stability.
For now, the PSX reflects a tug‑of‑war between bargain hunters and cautious sellers.
