KARACHI: The Pakistan Stock Exchange (PSX) closed lower on Friday, with the benchmark KSE-100 Index shedding 312.77 points, or 0.26%, to settle at 119,649.14. This decline follows a record-setting session on Thursday, where the index surged over 1,400 points to close at an all-time high of 119,961.91, driven by positive economic indicators and investor optimism ahead of the upcoming budget.
During Friday’s session, the KSE-100 Index experienced volatility, reaching an intraday high of 120,506.17 and a low of 119,541.15, marking a trading range of approximately 965 points. The market witnessed profit-taking as investors capitalised on the previous day’s gains.
Despite the day’s downturn, the KSE-100 Index has shown a robust performance over the past year, with a 59.68% increase. Year-to-date, the index has risen by 3.93%, reflecting sustained investor confidence in the market’s long-term prospects.
Market analysts attribute the recent rally to several factors, including the approval of a $1.3 billion Resilience and Sustainability Facility by the IMF, the launch of Pakistan’s first sovereign domestic green sukuk, and a reduction in the debt-to-GDP ratio to 65%. These developments have bolstered investor sentiment, leading to increased market activity.
While Friday’s session saw a pullback, market participants remain optimistic about the PSX’s trajectory, anticipating further growth driven by ongoing economic reforms and favourable fiscal policies.
