Stock market ends lower after historic surge, KSE-100 closes in negative
Business
After hitting record highs following IMF approval of $1.2 billion, Pakistan’s stock market saw a late-session decline, with the KSE-100 index closing slightly in the red.
KARACHI (Dunya News) – Pakistan’s stock market showed strong momentum after the International Monetary Fund approved $1.2 billion for the country, pushing the KSE-100 index to historic highs earlier in the day.
At the start of trading on the third day of the business week, optimism was high, and the index climbed over 1,100 points to reach 170,514 points, marking a significant milestone.
However, during the trading session, a sudden wave of selling hit the market, which continued until the close. As a result, the KSE-100 index fell by 4 points, ending the day at 169,451 points.
The main sectors attracting strong buying included automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing firms, power generation companies, and refineries. Notable gainers in the positive zone were HBL, PPL, POL, OGDCL, Mari, Hubco, and UBL.
For context, at the end of the previous trading day, the KSE-100 had closed at 169,456 points, up 1,153 points from the session before. Analysts said the market remains upbeat, but minor corrections are natural after record-breaking rallies.
