KARACH: The Pakistan Stock Exchange (PSX) opened in the red on Friday with the benchmark KSE-100 index shedding a sharp 2,000 points amid Iran-Israel tensions and business community’s concerns regarding budget for next fiscal year 2025-26.
During intraday trading, the benchmark index plunged over 2,000 points to reach 122,091 points.
The market opened lower and still under pressure amid continued investor uncertainty, economic headwinds, and concerns over the Middle East tension.
According to experts, political and economic uncertainty and concerns related to the upcoming fiscal year’s budget are affecting the market, due to which investors preferred selling.
A day earlier, the 100-Index also continued with bullish trend on Thursday, gaining 259.56 points, showing positive change of 0.21 percent, closing at 124,093.12 points.
A total of 1,024,633,864 shares Rs 50.539 billion were traded during the day.
As many as 474 companies transacted their shares in the stock market, 170 of them recorded gains and 270 sustained losses, whereas the share price of 34 companies remained unchanged.
