Stocks closes lower amid global jitters and profit-taking

Stocks closed lower on Friday as institutional investors took profits in blue-chip stocks amid global equities' jitters over former President Donald Trump's reciprocal tariffs on multiple trading partners.

The benchmark index ended the session in negative territory, experiencing volatility throughout the day.

The cautious sentiment was further fueled by uncertainty surrounding the upcoming IMF review. Investors closely watched the country's progress in meeting key benchmarks set by the International Monetary Fund.

Major laggards included the oil & gas exploration companies, oil & gas marketing companies, and commercial banks sectors, which all contributed to the market's decline.

KSE-100 index shed 0.43% or 478.78 points to close at 112,085.30 points.

Indian markets are going up and down a lot for several reasons. Foreign investors are selling, company profits are weak, and industrial production has slowed down.

The plan for the US and India to double their trade by 2030 gives some hope to investors, but overall, people are still worried.

BSE-100 index shed 0.8% or 190.97 points to close at 23,831.08 points.

DFM General Index gained 0.8% or 42.76 points to close at 5,361.96 points.

Commodities

Oil prices went up on Friday, ending three weeks of falling prices. This happened because President Trump didn't immediately impose tariffs on U.S. trading partners.

On Thursday, Trump asked his team to find ways to impose tariffs that match those other countries put on U.S. products, and they have until April 1 to do this.

Investors were relieved because they had worried that the tariffs would be imposed immediately.

Brent crude prices increased by 0.93% to $75.72 per barrel.

On Friday, gold prices went up a bit. Gold has been rising for seven weeks straight because people are worried about a possible global trade war and are looking for safe investments.

U.S. President Donald Trump’s call for equal trade tariffs has added to investors' uncertainty, which is keeping gold prices high.

International gold prices increased by 0.39% reaching $2,927.87 per ounce.

Currency

US dollar eased against PKR in the inter-bank market. Pakistani currency closed at 279.21. In the open market USD was trading at PKR 281.