The Pakistan Stock Exchange (PSX) closed lower on Friday after recording four consecutive sessions of gains, pushing the benchmark KSE-100 Index below 167,000 points.
Investors lost more than Rs 103 billion as concerns over rising oil prices, global tensions and possible interest rate increases triggered widespread selling.
The market faced pressure amid fears that higher inflation could prompt another increase in interest rates. Consequently, nearly 60 per cent of listed shares ended the session in negative territory.
KSE-100 Index Closes 784 Points Lower
Trading began positively, with the benchmark index gaining 145 points. However, the early momentum faded as investors started booking profits, particularly in the banking and refinery sectors.
Moreover, the settlement of previous contracts during the rollover week increased selling pressure. The index dropped by as much as 866 points before buying at lower levels helped recover some losses.
Eventually, the KSE-100 Index closed at 166,409.25 points, shedding 784.19 points. Other major indices also finished in negative territory, including the KSE-30, KSE All Share and KMI-30 indices.
Trading Volume Rises Despite Market Decline
Despite the overall downturn, trading activity remained strong. Total volume increased by 1.05 per cent compared with Thursday, reaching 825.46 million shares.
Shares of 501 companies changed hands, with 173 advancing, 300 declining and 28 remaining unchanged.
Unilever Pakistan Foods emerged among the major gainers, rising Rs 428.80 to close at Rs 26,280. Rafhan Maize Products also gained Rs 104.14, settling at Rs 8,587.46.
Meanwhile, Pakistan Engineering Company recorded the biggest losses, falling Rs 35.70 to Rs 880.29. Sazgar Engineering Works also declined Rs 33.11, closing at Rs 1,400.25.
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