The Pakistan Stock Exchange (PSX) faced a sharp correction on Thursday, with the KSE-100 Index dropping 1,488.48 points (0.81%) to close at 181,561.32. The market opened bearish and fell over 1,000 points in early trading, reflecting widespread selling pressure.
Major sectors including cement, commercial banks, oil & gas exploration, and refineries led the declines. Key heavyweight stocks such as MCB, NBP, OGDC, POL, PPL, and ARL mostly traded in the red, amplifying the market’s downward momentum.
This drop came after a 896-point gain on Wednesday, when selective buying helped recover earlier losses, indicating market volatility and investor caution.
Despite local weakness, Asian markets climbed to record highs. Japan and South Korea’s technology sectors led gains, pushing the MSCI Asia-Pacific index up 0.65%, bringing its year-to-date growth to about 13%.
Investors in Pakistan remain cautious ahead of upcoming US inflation data, following stronger-than-expected January jobs numbers that tempered expectations for near-term Federal Reserve interest rate cuts.
Analysts suggest that continued foreign portfolio flows, earnings announcements, and macroeconomic developments will likely influence PSX performance in the coming days. Market participants are keeping a close eye on both domestic policy decisions and global economic indicators.
