KSE-100 drops 704 points in Friday's first session as Middle East unease weighs on investors
KSE-100 drops 704 points in Friday’s first session as Middle East unease weighs on investors
The KSE-100 falls 703 points in the first trading session of Friday, October 2, extending the market’s slide as investors stay cautious over rising tensions in the Middle East and firm crude oil prices. The benchmark closed the morning session at 167,933.14, down 703.71 points, or 0.42 per cent, from Thursday’s close of 168,636.85.
The session was choppy from the start. The index opened near 168,639 points and briefly touched an intraday high of 168,854.46 before selling pressure dragged it to a low of 167,685.42. That left a trading range of roughly 1,169 points for the morning. By around 10am, the benchmark had already shed 341 points and was trading at 168,296.
The KSE-100 falls 703 points as selling spreads across major sectors
The selling was broad. Automobile assemblers, cement companies, commercial banks, oil and gas exploration firms, oil marketing companies and power producers all traded lower.
Among the notable losers were Attock Refinery (ARL), Hub Power (HUBC), Pakistan State Oil (PSO), Sui Southern Gas (SSGC), Habib Bank (HBL), National Bank (NBP) and United Bank (UBL). Trading activity stayed heavy: around 67.51 million shares changed hands at a total value of about Rs3.89 billion.
Pakistan International Bulk Terminal led the volume chart with 14.51 million shares and declined 2.31 per cent. K-Electric followed with 12.14 million shares, while Cnergyico recorded 9.22 million. Maple Leaf Cement and Lotte Chemical were also among the most active stocks, with both trading lower.
Friday’s first session at a glance
| Measure | Value |
|---|---|
| KSE-100 at Friday prayers break | 167,933.14 |
| Change | -703.71 points (-0.42%) |
| Previous close (Thursday) | 168,636.85 |
| Intraday high | 168,854.46 |
| Intraday low | 167,685.42 |
| Shares traded | 67.51 million |
| Value traded | Rs3.89 billion |
Middle East tensions weigh on sentiment
Market watchers pointed to developments in the Middle East as the main drag on confidence, along with higher crude prices and reports of increased American military activity in the Gulf. Investors also kept an eye on international economic indicators, including upcoming employment data from the United States, for clues about the direction of global markets.
The decline followed a rough Thursday session, when the KSE-100 had already fallen 1,332.47 points, or 0.78 per cent, to close at 168,636.85. Two straight sessions of selling have now pushed the index further away from its recent highs.
What traders are watching next
The second session resumes after Friday prayers. Market participants will be watching whether buying interest returns in major banking and energy stocks or whether the selling carries into the second half of the day. With regional tensions and oil prices still in focus, the afternoon session could set the tone for the week ahead.
Frequently asked questions
How far did the KSE-100 fall on Friday, October 2?
The benchmark fell 703.71 points, or 0.42 per cent, to 167,933.14 at the Friday prayers break in the first session.
Why is the market falling?
Investors are cautious over Middle East tensions, higher crude oil prices and reports of increased US military activity in the Gulf. Upcoming US employment data is also on their radar.
Which stocks saw the heaviest trading?
Pakistan International Bulk Terminal led volumes with 14.51 million shares, followed by K-Electric with 12.14 million and Cnergyico with 9.22 million.
When does trading resume on Friday?
The second session begins after Friday prayers. Traders will watch whether buyers step back into banking and energy stocks in the afternoon.
