The Pakistan Stock Exchange (PSX) remained under pressure on Friday, with the benchmark KSE-100 index falling 668.83 points, or 0.4%, to 168,196.21 at the midday break.

The index opened lower and briefly dropped to 166,141.

The decline followed Thursday’s sharp sell-off, when the KSE-100 lost 3,078 points, or 1.79%, to close at 168,865.04.

Investors had sold stocks amid rising global oil prices and renewed US-Iran tensions. The sell-off also pushed the index below the key 170,000 level.

KSE-100 Recovers From Morning Low

The KSE-100 extended its losses during Friday’s morning session.

At one point, the index was more than 2,700 points below Thursday’s close.

However, bargain-hunting later helped the market recover.

The index reached a session high of 168,240.89 before the Friday prayer break.

Around 137.7 million shares changed hands during the first session. The total traded value stood at Rs9.77 billion.

Trading then paused under the PSX’s regular Friday schedule.

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The second session is scheduled to resume at 2:32pm and continue until 4:30pm.

Broader Market Indices Also Fall

Other major market indicators also remained in negative territory.

The KSE All-Share Index fell 382 points, or 0.37%, to 101,912.80.

The KSE-30 Index declined by 161 points.

The KMI-30 Islamic Index also lost 509 points.

Oil and gas stocks offered some support during the session. The OGTI index rose 0.45%.

Investors Watch Oil and Geopolitical Risks

Investors remain focused on geopolitical developments and the impact of higher crude prices.

Thursday’s sell-off wiped hundreds of billions of rupees from the market capitalisation.

Higher oil prices could also increase inflationary pressure and affect corporate costs.

Market participants will now watch the afternoon session closely.

The key question is whether bargain-hunting can sustain the midday recovery or whether selling pressure will return when trading resumes after prayers.