PSX slips 352 points as political and geopolitical risk weighs
The KSE-100 Index closed at 167,089 on Friday, down 352 points or 0.21 per cent from the previous session, in exceptionally dull trading. Volumes came in at 110 million shares, which the market read as cautious participation ahead of the weekend.
Sentiment had been unsettled by the previous session's sharp selling, which followed a surge of more than 5 per cent in oil prices. Ahmed Sheraz, head of support trading at KASB KTrade, said sentiment improved slightly overnight after comments by Donald Trump suggested limited prospects of further escalation before the US midterm elections. Brent crude eased from near $106 a barrel to around $102-103 before trading between $103-104 during market hours, offering some relief.
Sectoral performance was mixed. Commercial banks, cement and technology stocks came under pressure, with HBL, UBL, MCB and OGDC cited among the major decliners, while CNERGY, KEL and PIBTL featured among the volume leaders. Local political uncertainty and persistent geopolitical risk, particularly tensions involving the Houthis and the Red Sea, continued to weigh on sentiment.
Looking ahead, the market is expected to remain range-bound and volatile, with participation subdued until greater clarity emerges on Pakistan's political situation and the evolving geopolitical landscape. Oil price movements are likely to remain a key driver of near-term sentiment.
