Karachi: Pakistan’s benchmark stock index, the KSE-100, dropped sharply in early trading on Friday, shedding 3,129.83 points by 10:20am and reversing part of the strong gains recorded in the previous session.
The index declined 1.94 percent from Thursday’s closing level of 161,210.67 points, falling to 158,080.84 points during the morning session. The decline came a day after the market staged a powerful recovery, when the KSE-100 closed in the green with a gain of 5,433.46 points.
Market witnesses volatile start to trading
Friday’s session opened with notable volatility as investors reacted to shifting market sentiment. Initially, the index dropped sharply around 9:20am, signaling early selling pressure across several sectors.
However, the market briefly recovered around 9:25am before declining again by 9:34am. Shortly afterward, the benchmark index regained some momentum until about 9:40am. Despite the temporary rebound, selling pressure returned, pushing the market back onto a downward trajectory.
Market analysts said such fluctuations often reflect cautious investor behavior following major gains or losses in previous sessions.
Key stocks record mixed performance
Meanwhile, several heavily traded stocks recorded mixed movements during early trading hours.
K-Electric declined 2.36 percent to Rs7.86, with trading volume reaching 17,217,331 shares. Similarly, Cnergyico PK Limited dropped 3.58 percent to Rs6.73, with a volume of 13,663,326 shares.
In contrast, Unity Foods Limited posted gains, rising 5.06 percent to Rs9.57 with a trading volume of 12,651,079 shares.
Analysts at Topline Securities noted that Thursday’s 3.49 percent surge was largely driven by strong institutional buying, which helped reverse what they described as the market’s earlier overreaction to regional developments.
According to the brokerage, the return of institutional investors improved market sentiment, replacing caution with renewed confidence. Investors are now closely watching whether this optimism will return or if volatility will continue to shape trading sessions ahead.
