KARACHI: Pakistan’s stock market came under heavy selling pressure on Friday, with the benchmark KSE-100 Index losing three key psychological levels as investors reacted to a widening current account deficit and increased selling activity.
During the trading session, the KSE-100 Index fluctuated between an intraday high of 178,694 points and a low of 175,790 points. The benchmark had closed at 178,123 points in the previous session.
Trading remained active, with 618.6 million shares changing hands in deals worth approximately Rs29 billion. A total of 566 companies were traded during the session.
Market breadth remained firmly negative, as share prices of 101 companies advanced, while 367 companies declined.
Market experts said investor sentiment weakened after the country’s current account shifted from a surplus to a deficit, while sustained selling pressure further accelerated the market’s decline.
More read, Pakistan stocks surge as KSE-100 index jumps 2,837 points
Earlier, Pakistan’s stock market rallied sharply, with the benchmark KSE-100 Index gaining 2,837 points as broad-based buying lifted investor sentiment.
The benchmark index closed at 178,123.42 points, recovering three key psychological levels during the trading session. It also touched an intraday high of 178,431.37 points, compared with the previous close of 175,285.52 points.
Trading remained robust, with 731.2 million shares changing hands in deals worth approximately Rs.34 billion.
A total of 565 companies were traded on the exchange, of which 343 advanced, 129 declined, while the remaining stocks ended unchanged.
Market analysts attributed the strong rally to sustained buying in key sectors, saying improved investor confidence and broad-based gains helped maintain the bullish momentum throughout the session.
