The benchmark KSE-100 Index closed lower on Friday, losing 670 points (-0.40% DoD) to settle at 167,844 points as investors opted for profit-booking in the final trading session of the week.

Activity remained relatively muted with 170 million shares traded in the KSE-100 universe, reflecting continued cautious positioning, said Ahmed Sheraz of KASB KTrade. Volume leaders included PTC (26 million), BOP (17 million), and CNERGY (14 million).

Sector-wise, pressure was largely concentrated in commercial banks, cements, and investment-related names, with UBL, HBL, LUCK, ENGROH, SYS, and OGDC emerging among the key negative contributors.

On the other hand, PTC, EFERT, and PPL provided partial support and helped limit broader downside.

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The session broadly reflected a mixed tape with selective buying but dominant profit-booking, amplified by the typical Friday effect and thinning participation ahead of the upcoming Eidul Azha holidays, with only one trading session remaining before the extended break.

Externally, markets continued to track a cautious global tone as oil remained range-bound around US $104–106/bbl, while investors monitored developments surrounding the United States-Iran negotiations, where reports suggest draft discussions have progressed but remain unresolved.

Combined with subdued global risk appetite, these factors continued to keep local volumes and conviction contained.

Looking ahead, the market remains headline-driven, with near-term direction likely to depend on developments surrounding US-Iran negotiations.