The Pakistan Stock Exchange (PSX) witnessed a sharp correction on Friday as the benchmark index slipped after recent gains. The market turned negative as investors opted to book profits following a strong upward rally in earlier sessions.
KSE-100 Index Closes in Red
According to Beyond Time News, the benchmark KSE-100 Index closed at 171,115 points, marking a decline of 1,778 points (1.03%).
Market analysts described the session as a typical end-of-week profit-taking trend after sustained bullish momentum in recent days.
Trading Activity and Sector Pressure
Overall trading activity remained active, with 431 million shares traded in benchmark stocks. Key participation was seen in stocks such as K-Electric (KEL), Cnergyico (CNERGY), and PIBTL.
Selling pressure was mainly observed in commercial banks and oil and gas exploration companies, which dragged the index lower throughout the session.
Major negative contributors included UBL, ENGROH, MEBL, PPL, MARI, OGDC, FFC, BAHL, and LUCK.
PSX Surges Over 1,480 Points as KSE-100 Crosses 173,000 on Strong Buying Momentum
Global Factors Weigh on Sentiment
According to Beyond Time News, international market conditions also influenced local sentiment. Crude oil prices remained elevated around $99–101 per barrel, as investors monitored developments in the Strait of Hormuz and ongoing geopolitical tensions involving US-Iran relations.
Weak performance in US and Asian markets further added pressure on investor confidence in Pakistan.
Market Outlook
Analysts expect the market to remain news-driven in the coming week, with investor sentiment likely to react sharply to any developments related to global oil supply risks and geopolitical tensions in the Middle East.
The recent decline reflects a pause in the market’s bullish trend as investors reassess risk following a strong rally in the Pakistan Stock Exchange.
One thought on “PSX Falls Over 1,700 Points as Investors Lock in Profits After Recent Rally”
Comments are closed.