The Pakistan Stock Exchange (PSX) endured a volatile session on Friday with the benchmark KSE-100 index posting a modest gain of 83.90 points to settle at 158,037.37, after briefly touching the all-time high of 159,337 earlier in the day.
The market saw strong activity in power, technology and cement sectors, while selling pressure in commercial banks capped gains.
"Another historic day at the PSX saw the KSE-100 index touch 159,337 points, supported by the strongest volumes in weeks," noted Mubashir Anis Naviwala of JS Global.
However, heavy profit-taking emerged after hitting the record high, dragging the index down to close at 158,037, up 84 points. Power, technology and cement stocks performed strongly, while selling pressure was witnessed in commercial banks, he said.
Total traded volumes stood at 2,048 million shares as strong participation from both institutional and retail investors fueled the rally further. "The outlook remains bullish, with dips offering attractive accumulation opportunities in key sectors," the analyst added.
Arif Habib Limited (AHL) reported that on Friday 36 shares advanced while 62 declined, where Hubco (+4.76%), The Bank of Punjab (+10%), and OGDC (+1.76%) contributed the most to the index gains. On the other side, UBL (-2.42%), Engro Holdings (-1.06%) and HBL (-1.57%) were the biggest drags. Overall, it was a solid week for the KSE-100, which gained 2.3% week-on-week.
On the macro front, AHL said, Pakistan posted a current account deficit of $245 million in August 2025, sharply higher than the $82 million deficit a year earlier, mainly due to rising import demand. This brought the cumulative 2MFY26 deficit to $624 million, compared to $430 million in the same period of last year.
Meanwhile, Pakistan Petroleum (-0.34%) announced FY25 earnings per share of Rs33.82, down 19% year-on-year, alongside cash dividend of Rs7.50 per share.
Market activity remained buoyant, with traded volumes on the KSE crossing 2 billion shares in Friday's session, a level last witnessed in December 2021, suggesting that investors should remain cautious about potential weakness in the coming weeks.
Following a robust positive session a day earlier, the market witnessed a range-bound trading day, highlighted Topline Securities in its market review, "reflecting a tug of war between optimistic investors riding the bullish momentum and cautious participants looking to book profits ahead of the futures contract rollover week."
The index oscillated between the intra-day high of +1,384 points (+0.88%) and the low of -431 points (-0.27%), eventually settling marginally higher by 0.05% at 158,037 points. This indecisive movement underscores investor caution amid elevated levels and the upcoming derivatives expiry, Topline said. Traded value-wise, OGDC ($21 million), PSO ($20.9 million), BOP ($15.2 million), Pakistan Petroleum ($13 million) and Hubco ($10 million) dominated the trading activity.
The top positive contribution to the index came from Hubco, OGDC, The Bank of Punjab, Systems Ltd and PSO as they contributed +663 points. On the other hand, UBL, Engro Holdings, HBL, FFC and Mari Petroleum pulled the index down by 248 points, it added.
Overall trading volumes were recorded at 2.05 billion shares compared with the previous session's tally of 1.96 billion. The value of shares traded was Rs69.3 billion.
Shares of 486 companies were traded. Of these, 189 stocks closed higher, 266 fell and 31 remained unchanged.
Cnergyico PK was the volume leader with trading in 170.3 million shares, losing Rs0.29 to close at Rs8.12. It was followed by The Bank of Punjab with 167.3 million shares, gaining Rs2.38 to close at Rs26.26 and WorldCall Telecom with 163 million shares, losing Rs0.10 to close at Rs1.68. Foreign investors sold shares worth Rs1.37 billion, the NCCPL reported.
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