The Pakistan Stock Exchange (PSX) came under intense selling pressure on Friday, with the benchmark KSE-100 Index plunging over 1,700 points in the second half of the trading session.
By the close of market, the index had dropped 1,701.56 points, or 1.09%, to settle at 154,439.68.
Heavy losses were recorded across major sectors, including commercial banks, fertilisers, oil and gas exploration, refineries, and power generation. Several index-heavy stocks—NRL, HUBCO, MARI, OGDC, PPL, POL, MCB, MEBL, NBP, and UBL—closed deep in the red, contributing significantly to the market’s decline.
The downturn follows Thursday’s negative close, where the KSE-100 Index slipped 879.55 points, or 0.56%, ending the session at 156,141.25. The pullback marked a pause in the bullish momentum seen in earlier sessions, as investors opted for profit-taking.
In the currency market, the Pakistani rupee extended its winning streak, appreciating slightly against the US dollar for the 26th consecutive session.
At the close of Friday’s inter-bank trading, the rupee stood at 281.55, gaining Re0.01 against the greenback. Despite the modest movement, the local currency has maintained steady upward momentum in recent weeks.
