KARACHI:
The Pakistan Stock Exchange (PSX) rebounded on Friday, driven by late-session easing in crude oil prices, which buoyed investor sentiment and enabled the benchmark KSE-100 index to close nearly 1,650 points higher.
According to Arif Habib Limited (AHL), the KSE-100 index rose 0.98%, or 1,646.82 points, settling at 170,511.86. While this recovery reduced the weekly decline to 2.75%, the index remained down 3.65% for the month and 2.04% for the calendar year 2026.
Market breadth was broadly positive, with 69 stocks advancing against 30 declining. Meezan Bank, Fauji Fertiliser, and Lucky Cement were among the top contributors to the index’s gains, whereas Habib Bank, Pakistan Oilfields, and Bank AL Habib exerted downward pressure.
Trading activity was robust, with regular-market turnover reaching 687.5 million shares valued at Rs33.7 billion, according to AHL. Notably, Pakistan Refinery, National Refinery, and Maple Leaf Cement were among the most actively traded entities.
Geopolitical developments continued to influence market dynamics. A six-member Gulf bloc is reportedly considering talks with Iranian officials regarding the strategic Strait of Hormuz, while Houthi forces have advanced toward Red Sea coastal areas near the Bab el-Mandeb Strait amid escalating clashes with Saudi-backed Yemeni forces.
On the corporate front, KAPCO announced fourth-quarter FY26 earnings per share of Rs1.14, marking a significant increase from the previous year, supported by a recovery in gross profit following earlier disruptions related to power purchase agreements. Additionally, an International Monetary Fund (IMF) staff mission is scheduled to arrive on September 23 for the fourth review of the Extended Fund Facility and the third review of the Resilience and Sustainability Facility.
“Technically, Friday’s close held key July lows near 170,000. The coming week will determine whether this signals a sustainable bottom or merely a counter-trend rally,” AHL noted in its assessment.
Topline Securities’ market review highlighted that the KSE-100 index began the day negatively, as Houthi attacks on Saudi energy infrastructure pushed oil prices upward, dampening investor confidence.
However, in the latter half of the trading session, news of a potential meeting between a six-member Gulf bloc and Iranian officials to address the future of the Strait of Hormuz led to a decline in crude oil prices, reviving market sentiment.
This dip in oil prices facilitated the index’s recovery, allowing it to close at 170,512 points, up 0.98%. The primary drivers of the index’s upward movement included Meezan Bank, Fauji Fertiliser, Lucky Cement, Pakistan Petroleum, OGDC, and Engro Fertilisers, collectively contributing 1,032 points to the gain.
In terms of traded value, Maple Leaf Cement (Rs1.65 billion), HBL (Rs1.47 billion), Cnergyico (Rs1.31 billion), Attock Refinery (Rs1.29 billion), and PPL (Rs1.1 billion) dominated market activity, as reported by Topline.
Total trading volumes reached 687.47 million shares, compared to 628.67 million in the prior session, with a total traded value of Rs33.70 billion. Within the ready market, shares of 500 companies were actively traded, with 248 stocks closing higher, 210 declining, and 42 remaining unchanged.
Cnergyico Pk emerged as the volume leader with 104.27 million shares traded, increasing by Rs0.56 to close at Rs12.93. This was followed by Pakistan Refinery with 66.01 million shares, rising Rs4.70 to end the day at Rs85.63, and Media Times with 35.45 million shares, climbing Rs0.22 to finish at Rs6.92. Foreign investors offloaded shares worth Rs1.8 billion, according to data from the National Clearing Company.