KARACHI:
The KSE-100 Index on the Pakistan Stock Exchange (PSX) closed Friday at 170,765, adding a modest 266.15 points. Market participants maintained a cautious stance, weighed down by geopolitical tensions and persistently high oil prices.
The trading session presented a mixed outlook, with the KSE-100 Index advancing 266 points (+0.16% day-over-day) to settle at 170,765. According to Ali Najib, Deputy Head of Trading at Arif Habib Ltd., the benchmark fluctuated between gains and losses throughout the day before finishing relatively flat heading into the weekend.
Intraday volatility highlighted the market’s hesitation, as the KSE-100 Index reached a peak of 171,160 (+661 points; +0.39%) and a trough of 169,891 (-608 points; -0.36%). This wide trading range underscored the prevailing uncertainty and cautious participation among investors.
Geopolitical anxieties continued to weigh on investor sentiment. According to Reuters, Saudi Arabia, Turkiye, and Pakistan are preparing for an urgent, high-level meeting under their joint defense agreement to formulate strategies supporting the Kingdom against Houthi attacks from Yemen. Concurrently, Tehran attempted to disassociate itself from the rapid regional advance of its Houthi allies.
In a separate development, the PTI has opted to postpone its long march to Islamabad. The decision follows the deployment of extensive security forces, the implementation of road blockades, and restrictions on public assemblies.
On the corporate front, PSO PA (+0.94%) announced its FY26 earnings per share (EPS) at Rs32.10, representing a 28% year-over-year decline. This downturn was primarily driven by reduced sales volumes, elevated inventory losses, higher petroleum prices, and diminished contributions from the LNG segment due to geopolitical strains. The company declared a final cash dividend of Rs10 per share for 4QFY26, bringing its total FY26 payout ratio to 31%.
Index movers were closely split, as HBL, UBL, BAFL, BAHL, and PSO collectively contributed 207 points to the benchmark’s gain. Conversely, MEBL, FFC, HUBC, PTC, and CNERGY dragged the index down by 151 points.
Overall market activity remained subdued, with a total of 481.6 million shares exchanged and a traded value of Rs19.2 billion.
CNERGY led the market in trading volume, with 108.2 million shares changing hands during the session.
For the week, the KSE-100 Index finished relatively flat, shedding 119 points (-0.07% week-over-week) to close at 170,765. Throughout the week, the index oscillated between an intraday high of 172,762 and a low of 169,891, reflecting a range-bound environment characterized by selective profit-taking.
Looking ahead, market volatility is expected to persist. Selective buying may emerge if geopolitical tensions ease and oil prices decline. However, elevated energy costs, external-sector vulnerabilities, and the forthcoming IMF review will continue to be the primary drivers influencing market trajectory.
