Pakistan Stock Exchange (PSX) experienced a slight downturn on Friday, when the KSE-100 index fell by 327.60 points, or 0.28%, to close at 118,442,17.

The index reached a highlight of 119,405.91 and a low low level of 118,334.40 during the trade session.

Trade volume amounted to 172.2 million shares with a total value of Rs 14.91 billion. Despite the fall, the market remains relatively active with key sectors that continue to show resilience.

The market closed lower than the previous day’s closure of 118,769.77 points, reflecting some caution among investors in the midst of global uncertainties.

The negative closely effectively finished the six-day rally on the stock exchange.

During the day, the KSE-100 index increased by almost 600 points in the opening hours of trading. The index had reached 119,361.22 and marked a gain of 591.45 points or 0.5%.

Positive mood was driven by buying activity across key sectors, including business banks, oil and gas research companies, oil marketing companies (OMCs) and power production. Larger warehouses such as SSGC, WAFI, Mari, OGDC, PPL, HBL, NBP and UBL then upward movement.

The rally in the stock market comes in the midst of optimism about an impending staff-level agreement (SLA) with the International Monetary Fund (IMF), which is seen as an important step in stabilizing Pakistan’s economy.

State Bank of Pakistan (SBP) Governor Jameel Ahmed expressed hope that SLA would soon be signed, even if he did not deliver a specific timeline.

The market is also closely monitoring the efforts of the government to resolve the energy sector’s circular debt, which, if it tackle, would improve the cash flow of companies in this sector.

On Thursday, Pakistan Stock Exchange (PSX) continued its upward momentum on Thursday, with the KSE-100 index, which rose past the 119,000 mark during trading within day and reached a record high.

The index got almost 800 points and closed at 118,769.77, marking its sixth consecutive day with winnings.

The wave was driven by optimism with regard to Pakistan’s economic policies, including the expected other loan truck from the International Monetary Fund (IMF), reduction of electricity prices, tax cuts and the potential solution of circular debt.

Prime Minister Shehbaz Sharif welcomed the market’s record performance and attributed it to growing the investor’s confidence in the government’s financial agenda.

Investors were also bent by the expectations of the IMF’s Personnel Agreement and efforts to settle the circular debt, which could improve the cash flow of companies in new sectors.

The market was particularly active due to strong purchases from local mutual funds, which contributed to an increase in key sectors such as oil, gas and technology. Mari Petroleum experienced a significant trade value due to investor speculation prior to his board meeting.

Despite the positive momentum, foreign investors sold shares worth the RS720.8 million. The market’s total trading volume rose to 667.9 million shares, where sectors such as technology, oil and gas, fertilizers and refineries led the winnings. Analysts advised caution and recommended to book profits at higher levels while focusing on sectors with strong prospects.