The benchmark 100-Index lost 1.73 percent or 393.51 points to 22,387.31.
Banking stocks closed at the lower circuit breaker after State Bank announced a 50bps increase in the minimum PLS rate.
Bank of Punjab remained the volume leader with 15 million shares followed by Telecard with 10.5 million and National Bank with 10 million shares.
A devaluing rupee’s kept the trading participation low as volumes saw a decline of 21 percent to Rs.5.6 billion.
Among major losers, National Bank of Pakistan fell 4.99 percent to Rs51.27, while the Bank of Punjab fell 3.82 percent to 11.83 rupees.
The rupee ended higher at 105.67/105.76 against the dollar, compared to Thursday's close of 106.35/106.45.
