The Pakistan Stock Exchange (PSX) ended another turbulent trading session in the red on Friday, with the benchmark KSE-100 Index closing 718.24 points lower after a day marked by sharp swings in investor sentiment.
The market came under heavy selling pressure at the opening bell, causing the KSE-100 Index to plunge more than 1,800 points to an intraday low of 169,512.88.
However, buying interest returned during the second half of the session as investors accumulated heavyweight stocks. The benchmark index staged a strong recovery, climbing to an intraday high of 172,718.66, reflecting a rebound of nearly 2,500 points from the day’s lowest level.
The recovery proved short-lived as renewed profit-taking emerged in the final trading hours, dragging the market back into negative territory.
At the close, the KSE-100 Index settled at 171,021.20, down 718.24 points, or 0.42%, compared with the previous session.
The latest decline follows Thursday’s sharp selloff, when the benchmark index lost 2,690.48 points (1.54%) amid rising geopolitical tensions between the United States and Iran, coupled with a spike in international crude oil prices that dampened investor confidence.
Global financial markets remained cautious on Friday as elevated oil prices and rising bond yields fueled concerns over persistent inflation and the possibility of further interest rate hikes. Investors also reacted to the U.S. administration’s announcement of higher tariffs on imports from 60 trading partners, adding to uncertainty across international markets.
Meanwhile, Brent crude oil retreated around 3% to $97.69 per barrel after surging more than 7% a day earlier to briefly cross $102 per barrel. Oil markets remain volatile due to escalating tensions in the Middle East and concerns over disruptions to key global shipping routes, including the Red Sea and the Strait of Hormuz.
