Global Rally Misses Pakistan as PSX Tumbles
While Asian markets scaled new heights on Friday, Pakistan’s stock market moved in the opposite direction, weighed down by intense selling pressure. The KSE-100 Index lost nearly 1,100 points in the opening session, falling to 155,048.51 at 10:10am.
Major players in banking, energy, and industrial sectors led the decline. Companies including HUBCO, MARI, OGDC, PPL, MCB, and UBL all traded in the red. Analysts noted that profit-taking had intensified since Thursday when the index already fell 879.55 points to close at 156,141.25.
The slide came despite global optimism. Wall Street rallied on the back of easing inflation and the rising probability of multiple Federal Reserve rate cuts this year. In Asia, Japan’s Nikkei hit another record high, South Korea gained over 5% for the week, and Chinese blue chips reached their strongest levels since 2022.
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International trends highlighted a striking contrast: while regional markets celebrated relief in borrowing costs, Pakistan’s market faltered due to domestic concerns. Uncertainty over corporate earnings, economic reforms, and investor sentiment overshadowed global tailwinds.
Traders say the coming days will test the resilience of PSX, especially if selling continues in index-heavy sectors. The divergence between local and regional trends underlines the fragility of investor confidence in Pakistan.
