Pakistan Stock Exchange Closes Slightly Lower amid Absence of Fresh Triggers

KARACHI:

The benchmark KSE‑100 index fell by more than 200 points on Thursday at the Pakistan Stock Exchange (PSX), as trading remained confined to a narrow range amid an absence of fresh positive catalysts.

For the week, the index slipped 0.73%. Market breadth was weak, with more declines than advances. The KSE‑100 closed down 206.60 points (0.11%) at 180,104.61.

Arif Habib Limited (AHL) reported that the KSE‑100 closed 206.60 points lower, ending a week in which the index lost 0.73%. Breadth stayed weak, with 38 stocks rising and 61 falling.

Top gainers were Fauji Fertilizer (+0.62%), Service Industries (+3.91%) and HBL (+0.65%). The biggest decliners were Engro Holdings (-0.94%), Systems Ltd (-1.59%) and Meezan Bank (-0.55%). Cnergyico led the gainers with a 4.35% increase, followed by Service Industries and Pakistan Services.

In other news, the FY26 budget deficit reached Rs3,313 billion, equivalent to 2.6% of GDP – the lowest ratio on record. External risks continue to damp market sentiment. Iran has restructured its military for a more aggressive stance while U.S.‑Iran talks remain at an impasse, according to Arif Habib Limited. Progress on the Strait of Hormuz remains elusive, and mediation efforts by Pakistan and Qatar have yet to produce a lasting solution.

“Technical support for the upcoming week is expected between 178,000 and 180,000, with upside targets still at 190,000. The index is likely to remain range‑bound until clearer external signals materialize,” the report concluded.

Ahmed Sheraz of KASB KTrade noted that the KSE‑100 closed at 180,105, down 207 points (-0.11%) day‑on‑day, as the market continued to trade within a narrow range due to the absence of fresh catalysts. Trading volume remained robust, with 388 million shares changing hands. The top volume stocks were Cnergyico (247 million shares), The Bank of Punjab (16 million), K‑Electric (10 million) and SSGC (8.7 million).

Sector contributions were mixed across the board. On the gainers side, FFC led the rally, followed by SRVI and HBL. On the decliners side, ENGROH was the biggest drag, followed by SYS and HMB.

“Looking ahead, the market is expected to stay range‑bound as investors await a new catalyst. Oil prices are hovering around $87–90 per barrel, keeping sentiment cautious and limiting aggressive buying. A sustained break above the current range will likely need a meaningful macro‑economic, corporate or geopolitical catalyst,” he added.

With Friday declared a public holiday for Independence Day, the market will be closed for a long weekend. Investors are likely to adopt a cautious stance, awaiting fresh direction when trading resumes and a new catalyst emerges.

Total trading volume reached 891.33 million shares, up from 744.24 million in the prior session. The day’s trading value was Rs36.69 billion.

A total of 495 companies were traded, with 197 stocks rising, 269 declining and 29 unchanged.

Cnergyico Pk led turnover with 247 million shares traded, rising Rs0.57 to close at Rs13.68. Beco Steel followed with 104 million shares, falling Rs0.46 to Rs5.11, while Pakistan Refinery traded 40 million shares, gaining Rs5.93 to close at Rs76.73.

Foreign investors sold shares worth Rs802 million, according to the National Clearing Company.

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