PSX drops around 1,500 points by midday

Profit-taking drags KSE-100 down before Friday prayers

KARACHI:

The Pakistan Stock Exchange (PSX) suspended trading at midday on Friday for the regular Friday prayers break, with the benchmark KSE-100 Index down 1,494.09 points, or 0.85 per cent, at 173,885.77.

The Index had opened lower and traded in a volatile range during the morning session. It touched an Intraday high of 174,329.76 before sliding to a low of 172,809.89. By the time of the break, it stood well below the previous close of 175,379.86.

Trading volume reached 112.19 million shares, while the value of shares traded stood at Rs7.38 billion. The market is expected to resume after the prayers break and will continue until the regular close.

Read: PSX extends rally, reclaims 175,000 mark

Market participants attributed the early weakness to a mix of profit-taking after recent gains and lingering caution over economic and geopolitical developments.

Select blue-chip stocks in banking, cement, and energy sectors saw selling pressure, though activity remained moderate ahead of the scheduled suspension.

Investors will watch for direction in the second half of the session once trading reopens, with focus on any fresh corporate announcements or external cues that could influence sentiment before the weekend close.