Overview
- The KSE-100 closed at 179,603.73, down 908.91 points (0.50%), after touching an intraday low of 178,237.13.
- Early trade saw a steep drop of more than 2,100 points to 178,391 as banks, cement, fertiliser, exploration, oil marketing and power stocks retreated.
- Thursday’s session had already erased 2,537.16 points to 180,512.65, with ready-market volume near 874 million shares and market capitalization falling to about Rs20.44 trillion.
- Analysts pointed to speculation about Barrick Gold’s review of the Reko Diq project and security risks in Balochistan as major headwinds, pressuring energy and exploration names.
- Engro Fertilisers reported 4Q EPS of Rs6.26 and a Rs4 dividend below expectations, which traders said triggered selling, while foreign investors were net sellers of roughly Rs740 million on Thursday.