The Pakistan Stock Exchange (PSX) concluded Friday’s session with losses, ending a four-day winning streak as the benchmark KSE-100 index dropped 312 points to settle at 119,649. Despite briefly surpassing the 120,000 milestone earlier in the day, the index was unable to sustain the psychological threshold.
The trading day was marked by volatility and cautious investor behavior, primarily driven by concerns surrounding the upcoming federal budget. Market participants showed mixed sentiment, leading to fluctuations throughout the session.
While most sectors experienced pressure from profit-taking, pharmaceutical stocks stood out, drawing notable buying interest amid the broader decline. This selective demand helped offset some of the downward momentum but was not enough to push the market back into positive territory.
Arsalan Ahmed, an equity dealer, noted that the pullback was largely due to investors securing gains following a strong four-day rally. “Market participants are now adopting a wait-and-see approach, with the federal budget just around the corner. Investors are keenly watching for developments related to taxation, subsidies, and government expenditure,” he added.
Trading volumes remained robust, with approximately 570 million shares exchanged, generating a total turnover of Rs. 29 billion. Despite healthy participation, the dominant trend of profit-booking dampened overall performance.
Market analysts suggest that future movement will depend heavily on fiscal announcements, particularly policies affecting corporate sectors and investor confidence. The budget is expected to play a pivotal role in setting the tone for the next phase of the market’s trajectory.
The session closed with a cautious outlook, as investors await clarity on macroeconomic direction and potential reforms that could impact market fundamentals in the coming weeks.
