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KARACHI: The Pakistan Stock Exchange (PSX) ended lower on Friday, in line with a bearish trend across most Asian markets, snapping a four-session winning streak as investors resorted to panic selling ahead of the weekend amid renewed tensions in the Middle East and rising oil prices.
According to Topline Securities, the market remained under pressure after overnight tensions between the US and Iran near the Strait of Hormuz fuelled concerns about the stability of the fragile ceasefire and prospects for a lasting peace agreement.
The benchmark KSE-100 index fell 1.03 per cent, or 1,777 points, to close at 171,115.82.
The market extended losses after a four-session rally, with the index touching an intraday low of 170,393.12 before late-session value buying helped trim some losses.
Panic-selling on Middle East tensions drags index lower
Major negative contributions came from United Bank Ltd, Engro Holdings, Meezan Bank Ltd, Pakistan Petroleum Ltd, Mari Energies and Oil and Gas Development Company Ltd, which collectively erased 834 points from the index.
On the other hand, gains in K-Electric, Pioneer Cement and Millat Tractors provided limited support to the market.
In a bearish market, higher investor participation appeared to reflect panic-selling, as total trading volume crossed the one-billion mark at 1.02bn shares while traded value plunged 30.42pc to Rs36.66bn.
Arif Habib Ltd said only 27 shares closed higher while 73 declined during the session as investors opted for profit-taking, reducing the benchmark index’s week-on-week gain to 4.98pc.
The brokerage house noted that clashes between the US and Iran near the Strait of Hormuz had heightened geopolitical uncertainty.
Reports indicated that US forces targeted missile and drone launch sites, along with other military assets in Iran, raising fears that the confrontation could undermine ongoing negotiations over a US-backed peace proposal.
Analysts said investors remained cautious over the possibility of further escalation in the region, which could affect global oil markets and broader investor sentiment.
Market participants expect support for the benchmark index around 167,000-170,500 in the coming week, with 175,000 seen as the immediate upside target.
Published in Dawn, May 9th, 2026
