PSX: KSE-100 sheds over 300 points in early trade

Business Recorder reported that the KSE-100 index opened Friday's session in negative territory, with the benchmark at 168,296.33 at 10am after a fall of 340.52 points, or 0.20 per cent. Traders stayed careful as reports emerged that the US is deploying additional troops and aircraft carriers to the Middle East.

Losses were spread across banking, power generation, oil marketing and exploration names, along with cement and car assemblers. Heavyweights including ARL, HUBCO, PSO, SSGC, HBL, NBP and UBL were all trading lower.

The index had dropped 1,332.47 points, or 0.78 per cent, on Thursday to finish at 168,636.85, having surrendered its early gains above 170,000. Asian markets were also softer, with the MSCI Asia-Pacific index excluding Japan down 0.5 per cent and Japan's Nikkei 0.7 per cent lower, while crude oil prices stayed high. Investors are now looking ahead to US nonfarm payrolls, where forecasts centre on 90,000 jobs added in September.