The Pakistan Stock Exchange (PSX) on Friday witnessed a volatile session as the benchmark index lost over 600 points.
At close, the benchmark index settled at 163,806.21, a decrease of 638.50 points or 0.39%.
Heavy profit-taking in major sectors weighed on the market, leading to a sharp decline in the benchmark index.
Significant selling pressure was seen across key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing companies (OMCs), power generation, and refineries.
Several index-heavy stocks closed lower, including ARL, HUBCO, MARI, POL, PSO, SSGC, SNGPL, MCB, MEBL, and UBL, all of which traded in negative territory.
As a result, the KSE-100 Index dropped by 1,241.66 points, or 0.75%, to settle at 164,444.72 points by the close of trading.
Meanwhile, the State Bank of Pakistan (SBP) has release the annual report on the State of Pakistan’s Economy for the fiscal year 2024-25 on Thursday, saying a prudent monetary policy stance and continued fiscal consolidation strengthened macroeconomic stability.
