The Pakistan Stock Exchange (PSX) saw a volatile trading day on Friday, as the benchmark KSE-100 Index recorded a slight decline of 68.13 points, closing at 138,597.36, a decrease of 0.05%. Despite starting the day with optimism and hitting an intraday high of 140,585.38, profit-taking in the latter part of the session erased most of the early gains.
The market began on a positive note, with strong institutional buying and renewed interest in blue-chip stocks. The KSE-100 Index managed to cross the 140,000 mark during the first half of the session, driven by gains in key sectors such as automobile assemblers, commercial banks, oil and gas exploration companies, and OMCs. Major stocks including MARI, OGDC, PPL, POL, ARL, MCB, MEBL, and UBL saw strong performances, contributing to the initial rally.
However, as the day progressed, profit-taking activity weighed on the index, and the KSE-100 pulled back to hover around 138,788.46 at noon, up by just 122.97 points or 0.09%. Market experts indicated that such pullbacks were expected as the market moved toward consolidation, especially ahead of the upcoming earnings season.
Despite the minor pullback, the sentiment remains positive, supported by encouraging economic indicators. Analysts suggest that while the market could see some episodes of profit-taking in the short term, the overall momentum is likely to continue as investors remain optimistic about the results season.
This follows a record-breaking rally from Thursday, when the KSE-100 Index surged by 2,285 points, or 1.68%, to reach an all-time high closing level of 138,665.50. Today’s performance marks a slight consolidation after the recent bullish run. The market is expected to remain influenced by both domestic and global factors, with investor focus shifting towards earnings reports in the coming weeks.
