The Pakistan Stock Exchange closed modestly higher on Friday, with the KSE‑100 index climbing nearly 400 points to finish near 175,330. This rebound improved the week‑on‑week decline to 1.33% after a range‑bound session where investors stayed largely on the sidelines.
Arif Habib Limited (AHL) reported that the KSE‑100 closed 0.23% higher at 175,328.82, narrowing the weekly loss to 1.33%. Across the broader index, 60 stocks rose while 38 declined. Meezan Bank, Bank AL Habib and Mari Energies contributed most to the gains, whereas United Bank, Attock Refinery and Pakistan Services pushed the index down.
Key developments influenced market sentiment. The federal government is reportedly contemplating a reduction in high‑speed diesel refining margins from the current $41.89 per barrel cap to $30, a move that would compress refinery profitability.
In additional commentary, Oil & Gas Development Company (OGDC) posted a dramatic quarterly improvement, delivering 4QFY26 revenue of Rs127.1 billion (EPS Rs29.55 versus Rs9.37) and beating forecasts driven by higher oil prices, heightened hydrocarbon output and a Rs44 billion super‑tax reversal. The company declared a record FY26 dividend of Rs17 per share and stated, “Improved receivables recovery is expected to support future payouts,” indicating strong cash generation.
Topline Securities highlighted that trading remained range‑bound throughout the final session, with intraday swings between +0.28% and –0.24% before a closing gain of 0.23%. The subdued activity reflected investor caution and a reluctance to take aggressive positions.
Ongoing momentum came from MEBL, BHL, MARI, PPL and OGDC, together lifting the index by approximately 250 points. Conversely, UBL, ATRL, PSEL, CNERGY and FFC collectively pressured the market down by 212 points.
OGDC’s quarter‑end performance underscored its outperformance; the firm announced a 3.1× year‑over‑year earnings expansion, delivering Rs29.55 per share while accelerating annual EPS growth to Rs56.35 (up 43%). OGDC also revealed a payout record of Rs17 per share.
Analysts continue to price in optimism, with Topline noting a projected FY27E/FY28F price‑to‑earnings range of 6.1x to 5.2x for OGDC given its current valuation profile. Market leaders across the group included OGDC (Rs 2.82 billion market cap), CNERGY (Rs 2.06 billion), PCL (Rs 2 billion), ATRL (Rs 1.4 billion) and MLCF (Rs 1 billion).
Overall trading volume reached a record 874 million shares, up from 627 million the prior day, generating total turnover of Rs 32.4 billion. One hundred ninety‑six companies participated, with 235 closing higher, 218 falling and 43 flat. Notably, Cnergyico Pk led volume with 149 million shares traded, ending at Rs 13.92; Tasdeeq Information followed with 132 million shares, up to Rs 4.36; and WorldCall Telecom recorded 79 million shares, unchanged at Rs 1.13. Foreign investors sold shares worth Rs 198 million according to the National Clearing Company report.