The Pakistan Stock Exchange (PSX) witnessed a sharp downturn on Friday as intense selling pressure dragged the benchmark KSE-100 Index down by nearly 2,000 points shortly after the opening bell.
At 9:35 AM, the KSE-100 Index was down by 1,996.10 points, or 1.21%, standing at 162,534.70 points.
Widespread selling was observed across multiple sectors, particularly automobile assemblers, cement, commercial banks, oil & gas exploration, oil marketing companies (OMCs), and power generation. Shares of major companies including Hubco, Mari, OGDC, POL, PPL, PSO, SSGC, SNGPL, HBL, MCB, and Maple Leaf Cement traded in the red, contributing significantly to the decline.
In a key development, data released by the State Bank of Pakistan showed that remittances from overseas Pakistanis reached USD 3.2 billion in September 2025 — an 11.3% increase compared to USD 2.9 billion in the same month last year. On a monthly basis, remittances also rose by 1% from August’s USD 3.1 billion.
Additionally, two major Memorandums of Understanding (MoUs) were signed regarding the ownership and future partnership of K-Electric. The first MoU pertains to the sale and purchase of shares in KES Power Limited, while the second was signed between K-Electric Limited and Trident Energy Limited to promote strategic cooperation and investment opportunities in Pakistan’s energy sector.
The market had also closed lower on Thursday, as broad-based selling wiped out early gains. The KSE-100 Index ended the session down by 735.94 points, or 0.45%, closing at 164,530.81 points.
