Investors at the Pakistan Stock Exchange (PSX) faced another turbulent session on Friday, as the benchmark KSE-100 Index slipped nearly 1,100 points during early trading. The index was recorded at 155,048.51 at 10:10am, a decline of 0.7%.
Heavy selling was seen in key stocks, including MCB, HUBCO, OGDC, PPL, and NBP. The banking, oil and gas, fertiliser, and power sectors all registered losses. The pressure followed Thursday’s fall of 879.55 points, breaking the week’s earlier bullish momentum.
Read More: Free artificial knee implant marks breakthrough for Karachi hospital
Globally, however, markets were buoyant. Wall Street advanced after US inflation data eased concerns about monetary policy, paving the way for the Federal Reserve to cut interest rates next week. Analysts predict a quarter-point reduction with more likely to follow this year.
Asian equities mirrored the upbeat mood. Japan’s Nikkei climbed to an all-time high, South Korea recorded strong weekly gains, and Chinese blue chips rose to their best level since early 2022. Lower borrowing costs and expectations of strong AI-related earnings underpinned investor optimism worldwide.
Yet Pakistan’s stock market failed to ride the global wave. Analysts attributed the decline to local factors including weak investor confidence, profit-taking, and macroeconomic challenges. Unless confidence is restored, PSX may continue to underperform compared with regional peers.
