PSX Suffers Over 1,500-Point Drop Amid Heavy Selling Pressure

The Pakistan Stock Exchange (PSX) saw a dramatic decline on Friday, with the KSE-100 Index dropping by over 1,500 points during the early hours of trading. By 10:30am, the index had fallen to 115,611.33, registering a 1.29% decrease.

Key sectors like automobile assemblers, cement, chemicals, commercial banks, and oil and gas exploration faced immense selling pressure. Major companies, including HUBCO, PSO, SHELL, MARI, OGDC, POL, MCB, and UBL, saw their stock prices tumble.

Despite the bearish sentiment, market analysts at Intermarket Securities expressed optimism, stating that equities, particularly cyclicals, offer lucrative investment opportunities as Pakistan moves from stabilization to growth.

On Thursday, the market showed volatility but ended nearly flat at 117,119.65, gaining only 111.57 points.