KSE-100 slips as investors book profits before rollover
“PSX wobbles as profit-taking sets in before rollover.”
Key points
- PSX wobbles as profit-taking sets in before rollover.
- KSE-100 swings between 165,025.85 high and 163,041.97 low.
- Banking and energy stocks face selling pressure.
- Global market softness and SOE worries weigh on mood.
The Pakistan Stock Exchange retreated on Friday as investors booked profits before the futures rollover, with the KSE-100 Index swinging to an intraday low of 163,041.97 points after briefly touching 165,025.85. The benchmark gave up as much as 1,548.44 points, or 0.94%, from the previous close of 164,590.41 during volatile trade.
Analysts said sentiment softened after a string of mixed corporate earnings and concerns around losses at state-owned enterprises, alongside weakness in global equities and crude oil. Market participants preferred to lock in gains from recent advances, particularly in banking and energy counters. The State Bank reported a modest rise in foreign exchange reserves for the week ending October 17, while overall liquid reserves also inched higher, offering limited support to risk appetite.
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