Karachi, April 4, 2025 – The Pakistan Stock Exchange (PSX) witnessed intense selling pressure on Friday, as the benchmark KSE-100 index lost 146 points to close at 118,792—down from the previous day’s close of 118,938 points.
This downturn came despite a strong start to the session, where the KSE-100 index surged to an intraday high of 120,797 points, fueled by early optimism and positive sentiment.
Trading volume also reflected heightened activity, with 673 million shares changing hands, up from 540 million in the previous session. The overall value of shares traded jumped to Rs 44 billion, compared to Rs 37.5 billion a day earlier, indicating aggressive selling and repositioning by market participants.
Muhammad Rizwan, Director Brokerage at Chase Securities Pakistan (Pvt.) Limited, attributed the market reversal to renewed concerns over the global economy. “The ongoing tariff tensions between the US and several countries have raised the specter of a worldwide slowdown, triggering an 8% drop in global oil prices,” he explained. This decline had a direct impact on Pakistan’s oil and gas sector, which saw significant selling. Pakistan Petroleum Limited (PPL) dropped 3%, Oil and Gas Development Company (OGDC) fell 3.3%, and Pakistan Oilfields Limited (POL) slid 3.5%.
Despite the market-wide selling, the banking sector staged a powerful rally. The KSE-100 index saw support from banking stocks, with United Bank Limited (UBL) soaring 8.46%. Other major players such as Meezan Bank (MEBL), National Bank (NBP), MCB Bank, and Habib Bank (HBL) posted gains between 2.95% and 3.48%. Analysts linked this surge to expectations of strong quarterly earnings, drawing investor interest even as broader selling prevailed.
However, this momentum was not enough to shield the index from losses. Cement stocks, which initially benefited from falling oil prices and a Rs 30 hike in local cement prices, succumbed to profit-taking. D.G. Khan Cement (DGKC) and Lucky Cement (LUCKY) ended the day down 1.45% and 1%, respectively, as selling intensified in the latter half of the session.
Analysts anticipate continued volatility in the KSE-100 index, as global uncertainties and sector-specific selling patterns persist.