The Pakistan Stock Exchange (PSX) closed lower on Friday as the benchmark KSE-100 Index fell by 670 points amid profit-taking activity ahead of Eid holidays. The index settled at 167,844 points, reflecting a 0.40 percent decline. Investors opted to book profits in the final trading session of the week.
Market activity remained subdued with 170 million shares traded in the KSE-100 universe. Analysts said participation stayed cautious due to holiday-related uncertainty and weak global sentiment. Trading volumes reflected a defensive stance among investors.
Read more: PSX surges 1900 points amid renewed investor confidence
Pressure was mainly observed in commercial banks, cement, and investment-related sectors. Key laggards included UBL, HBL, Lucky Cement, Engro Holdings, Systems Limited, and Oil and Gas Development Company. These stocks collectively weighed on overall market performance.
On the other hand, select buying in Pakistan Telecommunication Company, Engro Fertilizers, and Pakistan Petroleum helped limit deeper losses. Analysts said the session showed mixed sentiment with profit-taking dominating market direction. Friday trading patterns also contributed to lower activity levels.
Read more: PSX gains as oil prices ease on diplomacy hopes
Market experts noted that global factors continued to influence local sentiment. Oil prices remained range-bound while investors monitored US-Iran negotiations. They added that the market is likely to remain headline-driven in the near term.