Global market volatility, rising oil prices, and profit-taking trigger a sharp sell-off at the Pakistan Stock Exchange
The Pakistan Stock Exchange faced heavy selling pressure on Friday as the benchmark KSE-100 Index plunged more than 4,000 points during early trading, reversing part of the previous session’s strong rally.
By 11:20 AM, the index was trading at 158,459.94, down 2,750.73 points, after earlier touching an intraday low of 157,072.64. Selling spread across key sectors including oil and gas exploration, power generation, refineries, automobile assembly, cement, fertilizers, and commercial banks.
Major index-heavy companies such as Hub Power Company, Mari Petroleum Company, Pakistan Oilfields Limited, Pakistan Petroleum Limited, MCB Bank, Meezan Bank, National Bank of Pakistan, and United Bank Limited all traded in the red.
The decline followed Thursday’s sharp rebound, when the KSE-100 surged 5,433 points (3.49%) to close at 161,210.68, one of the strongest single-day gains in recent months.
Friday’s downturn also reflected broader global market weakness. Asian equities moved toward their steepest weekly losses in six years, while energy markets surged as geopolitical tensions pushed oil prices higher.
MSCI Asia-Pacific Index slipped 0.4% on Friday and was set for a 6.6% weekly drop, its largest since March 2020. Meanwhile, Japan’s Nikkei 225 declined 0.5%, and South Korea’s KOSPI headed toward a 10.5% weekly fall.
Energy markets remained a key driver, with Brent Crude trading near $83 per barrel, up sharply from about $69 a week earlier, while West Texas Intermediate touched a 20-month high earlier this week.
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