psx retreats profittaking
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PSX retreats as profit-taking, oil prices hit sent…

ByJustpaste.in

The Pakistan Stock Exchange (PSX) came under pressure on Friday as investors opted to book profits after the market’s recent gains.

The benchmark KSE-100 Index fell sharply during early trading, reflecting cautious investor sentiment amid rising global oil prices and uncertainty over developments surrounding the Strait of Hormuz.

The index dropped 771.05 points, or 0.42%, to 181,005.54 by 9:39am. Selling was reported across several major sectors, putting pressure on the overall market.

By noon, the KSE-100 had recovered some of its losses and was trading at 181,326.54 points, down 450.05 points, or 0.25%, from Thursday’s close of 181,776.59.

During the session, the index moved between an intraday high of 181,647.27 and a low of 180,620.08 points.

Trading activity remained moderate, with around 146.05 million shares changing hands. The total value of traded shares stood at approximately Rs10.06 billion.

Selling was visible in several heavyweight sectors, including automobile assemblers, cement companies, commercial banks, fertiliser firms, oil and gas exploration companies and oil marketing companies.

Market sentiment was also affected by the continued rise in international crude prices. Investors remained cautious over possible disruptions to energy supplies amid tensions surrounding the Strait of Hormuz.

Analysts attributed the decline largely to profit-taking following the market’s recent strong performance. Investors appeared reluctant to make fresh aggressive positions while global oil prices and geopolitical risks remained elevated.

Despite Friday’s decline, the KSE-100 remained above the 181,000-point level, indicating that the broader market continued to retain much of its recent gains.

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