PSX loses 700 points in range-bound trading

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KSE-100 slips 0.41% to close around 170,480 as geopolitical concerns weigh on sentiment

The Pakistan Stock Exchange (PSX) witnessed a lacklustre, range-bound trading session on Friday, with the benchmark KSE-100 Index closing near 170,480 points, declining approximately 700 points.

“A range-bound trading session was observed at the exchange, with the index fluctuating within a narrow band before closing at 170,479 points, down 0.41%,” noted Topline Securities in its market review.

The cautious market activity was largely driven by limited progress in US-Iran peace negotiations this week. Meanwhile, renewed tensions in the region persisted as clashes continued despite the fragile ceasefire established in April, while ongoing hostilities in Lebanon further weighed on investor sentiment.

The top positive contributions to the index came from PSX, JVDC, KTML, MTL, and NPL, as they cumulatively contributed 138 points to the index. On the other hand, UBL, OGDC, PPL, MCB, and MEBL lost value and weighed down the index by 476 points.

Traded value-wise, MLCF (Rs1.33b), TRG (Rs1.02b), PTC (Rs992m), DGKC (PKR705m), OGDC (Rs655m), and PPL (PKR635m) dominated the trading activity. Traded volume and value for the day stood at 726m shares and Rs27b, respectively.

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