KARACHI: Pakistan’s benchmark KSE-100 index dropped sharply on Friday morning, losing more than 2,000 points by 10:55am as investor sentiment turned cautious following corporate and market developments.
The index fell 1.1 percent from Wednesday’s close of 187,832 points to 185,765.07 points during early intraday trading. Market activity was marked by both heavy volumes and significant price swings across multiple sectors.
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Among the most active stocks, K-Electric (KE) led trading with 207 million shares, gaining 5.54 percent to close at Rs8.77. This surge came amid news that KE Chief Executive Officer Moonis Alvi resigned on Friday, a disclosure submitted to the Pakistan Stock Exchange (PSX) indicated.
Banking stocks witnessed notable volatility, with National Bank of Pakistan dropping 7.13 percent to Rs266 on a volume of 33.1 million, while Bank of Punjab also declined 7.13 percent to Rs40.42 with 27.2 million shares traded.
Top advancers included First Elite Capital Modaraba, rising 10.02 percent to Rs22.5, Arpak International Investments Ltd. up 10 percent to Rs66, and East West Insurance Company Limited, climbing 10 percent to Rs51.15.
Conversely, the major decliners were First Tri-Star Modaraba, down 10.01 percent to Rs43.25, Janana De Malucho Textile Mills Limited, falling 9.29 percent to Rs122.02, and Dewan Textile Mills Limited, slipping 9 percent to Rs6.88.
Analysts suggest that the combination of the KE CEO resignation, sectoral volatility, and broader market uncertainty contributed to the sharp intraday correction. Investor caution remains elevated as companies report earnings, corporate leadership changes unfold, and macroeconomic indicators continue to influence market sentiment.
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The KSE-100’s early decline highlights ongoing challenges in maintaining stable investor confidence amid corporate news and market pressures, signaling a cautious trading environment for the day.