Market volatility continues as KSE-100 slips in early trade

Pakistan’s benchmark KSE-100 Index fell 349.75 points, or 0.23 per cent, by 10:45am on Friday, extending the market’s recent volatility.

Shortly after opening at around 9:20am, the index climbed to an intraday high of 155,002.10 points, before sliding to a low of 153,650.52 points about an hour later.

Trading activity remained moderate, with 45,623,261 shares changing hands so far, while the traded value reached Rs4.08 billion.

Among the most actively traded stocks, Dost Steels Limited led the volumes, rising 9.09pc to Rs6 on 22,036,960 shares. It was followed by Hascol Petroleum Limited, which gained 3.32pc to Rs18.04 on 13,429,503 shares, and JS Momentum Factor Exchange Traded Fund, which edged up 0.58pc to Rs10.35 on a volume of 8,146,000 shares.

The market’s cautious tone comes as global oil prices climbed back above $100 a barrel, while equities came under pressure after Iranian attempts to target energy supplies in the Middle East overshadowed a record release of strategic crude reserves by the International Energy Agency (IEA).

The KSE-100 had already closed lower on Thursday, shedding 1,437.04 points, or 0.92pc, following a highly volatile session. Similar swings were seen on Wednesday, when the index ultimately slipped 318.65 points, or 0.2pc, despite gaining nearly 2,000 points during intraday trading.