Bears return to PSX as selling spree intensifies amid uncertainty
Business
Selling pressure was observed in key sectors on Friday - last business day of the week
KARACHI (Dunya News) – Bears returned to the Pakistan Stock Exchange (PSX) during the opening hours of trading on Friday following an overall slump in the global market.
The benchmark KSE-100 index hovered at 115,219 points after shedding more than 900 points during early hours of trading. Later, the situation persisted and the index closed at 114,800 after losing 1,335 points.
Owing to uncertainty in the global market fuelled by Trump tariffs, selling pressure was observed in key sectors including automobile assemblers, commercial banks, oil and gas exploration companies, OMCs, power generation companies and refineries.
Read more: PSX breathes easy after 90-day reprieve in Trump tariffs
Besides, index-heavy stocks including MARI, OGDC, PPL, POL, PSO, SNGPL, HUBCO, MEBL, NBP and MCB traded in the red on the back of bearish trend in the international market.
It must be remembered that the KSE-100 index was closed at 116,189 points after gaining 2,036 points on Thursday after US President Donald Trump announced a 90-day pause on tariffs.
