PSX ends week in red, shedding over 1,700 points

KARACHI: The Pakistan Stock Exchange (PSX) experienced a substantial decline on Friday, a day after reaching a record high. The KSE-100 Index plummeted by 1,721.97 points, or 2.1 per cent, closing at 80,119.09.

This marks the largest drop since February 12, triggered by market uncertainty due to an unresolved election outcome.

Throughout the trading session, the KSE-100 Index fluctuated within a range of 2,127.14 points. It reached an intraday high of 81,939.83 points, gaining 99.97 points, and fell to a low of 79,812.69 points, losing 2,027.17 points.

The total trading volume for the KSE-100 Index stood at 246.33 million shares.

Out of the 100 companies listed on the index, 18 closed higher, 81 closed lower, and 1 remained unchanged.

The biggest decliners of the day included International Industries Limited (INIL) with a loss of 8.89 per cent, Gadoon Textile Mills Limited (GADT) down by 8.08 per cent, Pak Elektron Limited (PAEL) declining by 7.92 per cent, TRG Pakistan Limited (TRG) dropping by 5.77 per cent, and Pakistan Telecommunication Company Limited (PTC) falling by 5.62 per cent.

Conversely, the top gainers were Pakistan Gold Limited (PGLC), which rose by 9.06 per cent, EFU General Insurance Limited (EFUG) up by 5.30 per cent, Sui Northern Gas Pipelines Limited (SNGP) increasing by 3.63 per cent, JDW Sugar Mills Limited (JVDC) gaining 2.72 per cent, and Thal Limited (THALL) up by 2.62 per cent.

Sector-wise, the index was weighed down by Commercial Banks, which lost 446.62 points, Fertilizer down by 289.81 points, Power Generation & Distribution losing 275.22 points, Technology & Communication down by 152.48 points, and Oil & Gas Exploration Companies falling by 145.71 points.

This sharp decline underscores the volatility and sensitivity of the market to broader economic and political factors, indicating a cautious outlook for investors.

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