KSE-100 recovers from 3,000-point plunge earlier than partial restoration, alternate logs fifth unfavourable week
KARACHI:
Shares endured a unstable session on Friday as escalating tensions on the western border – marked by Pakistani airstrikes deep into Afghan territory and studies of a whole lot of casualties – weighed closely on equities, dragging the benchmark KSE-100 index down by over 3,000 factors intraday earlier than a partial restoration trimmed losses by the shut.
On the shut of buying and selling, the KSE-100 index of the Pakistan Inventory Alternate (PSX) settled at 168,062, shedding 831 factors or 0.49%.
“When borders get scorching, markets retreat,” mentioned Ali Najib, Deputy Head of Buying and selling at Arif Habib Restricted. The market opened on a unfavourable notice amid escalating tensions following reported airstrikes by Pakistan’s safety forces on militant strongholds inside Afghanistan, he mentioned.
Learn: PSX rebounds sharply amid rollover reduction
The heightened geopolitical scenario triggered broad-based promoting stress, with the index declining by greater than 3,000 factors at one stage earlier than partially recovering.
Main laggards of the session included UBL, FFC, OGDC, PPL, MCB, MARI, SYS, HBL, ATRL and NBP, which collectively eroded 885 factors from the index.
General market participation remained subdued, with complete traded quantity recorded at 533 million shares and turnover clocking in at Rs25.4 billion. UNITY led the quantity chart with 50.3 million shares traded in the course of the session.
Learn Extra: PSX falls additional in absence of cues
The session capped a fifth unfavourable week, with the KSE-100 shedding 5,108 factors or 2.95% over the week. The index opened the week at 172,963, touched an intra-week excessive of 174,337, slid to a low of 162,953, earlier than closing at 168,062.
Going ahead, developments on the western border are more likely to play a pivotal position in shaping market path. Any additional escalation could proceed to weigh on investor sentiment, whereas indicators of stability or de-escalation may assist restore confidence and assist a restoration in equities.
