The Pakistan Stock Exchange (PSX) witnessed a dull trading session on the last day before the long holiday, with the benchmark KSE-100 index fluctuating between an intraday high of +375 points and a low of -221 points.

It eventually settled at 117,807 points, posting a marginal gain of 0.03%.

According to a report by Topline Securities, the index found support from UBL, HUBC, MCB, MEBL, and LUCK, which collectively added 55 points.

However, losses in SYS, FFC, PPL, MARI, and NBP dragged the index down by 29 points.

In terms of traded value, PSO led the charts with Rs11.18 million in transactions, followed by MARI (Rs3.04 million), HUBC (Rs3.02 million), PPL (Rs2.07 million), and MLCF (Rs1.49 million).

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PSX plummets over 2,200 points as KSE-100 index faces sharp decline

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The total traded volume and value stood at 329 million shares and Rs19.76 billion, respectively.

Market expert Ahsan Mehanti of Arif Habib Corp attributed the flat close to a rise in government treasury bond yields, which surged to 12.38%, and weak economic growth figures.

The National Accounts Committee (NAC) approved a growth rate of 1.7% for the October-December 2024 quarter, significantly below the government’s 3.6% target for FY 2024-25.

“Reports of IMF approval on industrial tariff reductions and institutional support for the IMF deal at the quarter-end helped lift sentiment, contributing to the market’s positive close,” Mehanti said.

Separately, global markets reacted negatively, with Asian shares dipping in response to new tariffs on auto imports announced by US President Donald Trump, raising concerns over a potential global trade war and its inflationary impacts.

As the trading day progresses, market participants remain vigilant, monitoring both local and international developments that could influence market trends.