The Pakistan Stock Exchange (PSX) was controlled by selling pressures on Friday when the KSE 100 Index dropped by more than 400 points in the first half of the day.
At 12pm, the KSE100 index was recorded at 155,702.51 points, showing a decline of 438.73 points or 0.28%. According to Brecorder.com, the pressure was visible across key sectors, including commercial banks, fertiliser, oil and gas exploration companies, refinery and power generation.
Major PSX Companies in Red
Index-heavy PSX-listed companies such as NRL, HUBCO, MARI, OGDC, PPL, POL, MCB, MEBL, NBP and UBL traded in the red zone, contributing to the fall in the KSE index. Investors noted that the decline was mainly linked to profit-taking after consecutive positive sessions earlier in the week.
Previous Session Performance of KSE 100 Companies
On Thursday, the KSE 100 index companies also witnessed pressure as profit-taking halted the upward momentum. The KSE100 index closed at 156,141.25, down by 879.55 points or 0.56%. Analysts highlighted that the KSE30 index and other PSX companies also reflected a similar negative trend.
Globally, Asian share markets tracked Wall Street gains after reports of possible US Federal Reserve interest rate cuts. As per Brecorder.com, indexes in Japan, South Korea and Taiwan touched record levels, supported by expectations of strong AI-driven earnings.
The US consumer price index report, considered a key signal for the Federal Reserve’s next move, pointed towards softer inflation. Analysts expect the Fed to cut interest rates by a quarter-point next week, with markets already pricing in additional rate cuts in 2025.
The easing of US Treasury yields also provided relief to global bond markets, particularly in Europe, which are under pressure due to political and fiscal concerns. Meanwhile, in Asia, Japan’s Nikkei gained 0.6%, South Korea rose by 1.1%, and Chinese blue chips moved 0.2% higher. MSCI’s Asia-Pacific index outside Japan jumped 1.2%.
The market participants are still concerned with external economic indicators and company domestic updates. Any PSX notice or development concerning major KSE 100 companies would be likely to push the trading sentiment in the future sessions. Although the KSE 100 record high is still fresh in the memory of the investor, the current selling phase is characterized by the cautious trading patterns in the PSX listed companies.
