A bearish trend gripped the Pakistan Stock Exchange (PSX) again on Friday as the market declined by over 1,300 points after the positive sentiments that drove the bourse staging a recovery a day earlier. The dip followed China saying it would raise tariffs on US goods to 125 per cent.
More than 450 million shares worth more than 31 billion rupees were traded in the stock market. A total of 441 companies were traded in the stock market. In the stock market, shares of 244 companies declined and shares of 137 companies rose.
The benchmark KSE-100 index declined by 1,335.88 points, or 1.15pc, to close at 114,853.33 from the previous close of 116,189.21.
Yousuf M. Farooq, director research at Chase Securities, said the market closed lower today as participants reassessed the broader implications of US tariffs — particularly their impact on global trade dynamics and China.
Farooq said Pakistan remains relatively insulated from direct fallout, given its limited export base and the recent sharp drop in global commodity prices. US President Donald Trump has deployed sweeping tariffs, including painfully higher levies for dozens of major economies, as a stick to force manufacturers to base themselves in the US and for countries to lower barriers to US goods.