PSX KSE-100 Drops 1,494 Points by Midday

The Pakistan Stock Exchange suspended trading at midday on Friday for the regular Friday prayers break, with the benchmark KSE-100 Index down 1,494.09 points, or 0.85 per cent, at 173,885.77. The PSX KSE-100 had opened lower and stayed under pressure all morning.

The index had opened lower and traded in a volatile range during the morning session. It touched an intraday high of 174,329.76 before sliding to a low of 172,809.89. By the time of the break, it stood well below the previous close of 175,379.86.

Trading volume reached 112.19 million shares, while the value of shares traded stood at Rs7.38 billion. The market is expected to resume after the prayers break and will continue until the regular close.

A weak morning after Thursday’s rally

The selling started early. In the opening minutes of trade, the index lost more than 2,200 points as investors booked profits. At 9:40am it stood at 173,146.07 points, down 2,233.79 points or 1.27 per cent. It later recovered part of the loss before settling near the midday level.

Market participants linked the early weakness to profit-taking after recent gains, along with caution over economic and geopolitical developments. Select blue-chip stocks in banking, cement and energy saw selling pressure, though activity stayed moderate ahead of the scheduled suspension.

The fall breaks a strong run. On Thursday, the KSE-100 surged 3,366.38 points, or 1.96 per cent, to close at 175,379.86. That was the fourth straight positive session, with broad buying across key sectors lifting investor sentiment. Friday’s drop gives back less than half of Thursday’s gain alone.

The global sell-off behind the PSX KSE-100 fall

The pressure was not only local. Global equity markets sold off sharply overnight, and the mood spilled into Karachi. Asian stocks tumbled as an AI rout spread from the United States, and Wall Street stocks slid on fears around AI data centre spending.

The Nasdaq tumbled 5.5 per cent, Japan’s Nikkei lost 6 per cent, and South Korean and Taiwanese markets fell more than 8 per cent in early trade. The trigger was concern over tighter regulation of artificial intelligence following the US midterm elections, which hit technology shares around the world.

Pakistani investors watched the same screens. With global risk appetite falling, many chose to lock in gains from the week’s rally rather than hold through the weekend. That is a familiar pattern on the PSX: after a sharp rise, a bout of profit-taking often follows, and a weak global session gives sellers a reason to act.

The wider economy also shapes sentiment. The IMF has urged Pakistan to broaden its tax base and press ahead with growth reforms, and households are watching prices closely. Petrol was cut by Rs9.41 to Rs352.59 a litre this week, which eases pressure on consumers but also signals how closely the market tracks fuel and energy costs.

What happens next

Investors will watch the second half of the session once trading reopens. The focus will be on any fresh corporate announcements or external cues that could shape sentiment before the weekend close.

A recovery in the afternoon would confirm that Friday’s fall was routine profit-taking after a strong week. A deeper slide would suggest that the global sell-off has further to run in Karachi. Either way, the midday figure is only a snapshot: the close, not the break, will set the tone for Monday.

How much did the KSE-100 fall by midday?

The KSE-100 Index fell 1,494.09 points, or 0.85 per cent, to 173,885.77 by the Friday prayers break, against the previous close of 175,379.86.

What was the intraday range?

The index touched a high of 174,329.76 and a low of 172,809.89 during the morning session. Trading volume reached 112.19 million shares worth Rs7.38 billion.

Why did the market fall?

Investors booked profits after Thursday’s 3,366-point rally, and a sharp sell-off in global markets, led by technology shares, added to the pressure.

When does trading resume?

Trading resumes after the Friday prayers break and continues until the regular close.