KARACHI: The Pakistan Stock Exchange (PSX) closed deep in the red on Friday, extending its losing streak as investors grappled with uncertainty over IMF talks and rising border tensions with Afghanistan. The benchmark KSE-100 Index shed 1,433 points (0.87%), settling at 163,089 points after early-session losses took it below the 163,000 mark.
Market sentiment remained fragile, with investors showing little appetite for risk amid growing macroeconomic and geopolitical headwinds. Heavyweight stocks such as Engro Holdings, Systems Ltd, MCB Bank, Habib Bank, and Engro Fertiliser dragged the index down collectively by over 700 points.
Trading volumes also thinned, with 1.39 billion shares changing hands worth Rs47.7 billion in total. K-Electric remained the volume leader, recording nearly 200 million shares traded.
Analysts noted that the market has now lost over 6,800 points (around 4%) since its peak on October 3, reflecting mounting anxiety among investors. Despite positive corporate developments — including the signing of two MoUs for K-Electric’s ownership transition involving KES Power and Trident Energy — the market failed to regain momentum.
The uncertainty over a staff-level agreement with the IMF has been a persistent drag, while recent cross-border tensions following alleged strikes on Taliban leadership inside Afghan territory further dampened sentiment. Market watchers expect the 160,000–162,000 range to act as a near-term support zone, with 167,000 points serving as resistance in the days ahead.
This story has been reported by PakTribune. All rights reserved.