The Pakistan Stock Exchange (PSX) took a U-turn into negative territory on Friday as cautious investor sentiment and fears of an escalation in Middle East tensions triggered broad-based selling across major sectors, outweighing limited buying interest.
The benchmark KSE-100 index ended the session at 181,430.02, down 346.57 points, or 0.19%, after moving between an intraday high of 181,647.27 and a low of 180,620.08.
The market remained subdued throughout the session before slipping deeper into the red as investors adopted a risk-averse stance amid mounting geopolitical uncertainty. Although Saudi Arabia, Turkey and Pakistan reaffirmed their commitment to mutual defence, concerns that the Middle East conflict could widen continued to weigh on market sentiment, prompting investors to trim positions ahead of the weekend.
Selling pressure was witnessed across most index-heavy sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies, and oil marketing companies, which collectively dragged the benchmark lower.
Read:Â Pakistan, Saudi Arabia, Turkiye sign joint defence pact in Makkah
Market participants largely preferred to stay on the sidelines, with geopolitical developments dominating sentiment and overshadowing domestic triggers.
The advance in global crude oil prices also kept investors cautious over the potential impact of prolonged regional tensions on inflation and the broader economy.
Despite intermittent buying in selected stocks, the benchmark failed to claim positive momentum as selling in heavyweight shares persisted through the latter half of the session, keeping the market under pressure until the close.
Analysts said the decline reflected a cautious, risk-off mood rather than a deterioration in domestic economic fundamentals, with investors expected to closely monitor developments in the Middle East and their implications for regional markets and energy prices in the coming days.
Read more: PSX extends rally despite geopolitical jitters
Ali Najib, Deputy Head of Trading at Arif Habib Limited, noted that the PSX witnessed a mixed session today, with the benchmark KSE-100 Index closing on a subdued note at 181,430, down 347 points or 0.19% day-on-day.
The market opened cautiously and touched an intraday high of 181,647 before early gains faded in the second half as investors squared off positions ahead of the weekend, resulting in a marginally negative close.
On the corporate front, Mari Energies posted record FY26 earnings of Rs87 billion, with fourth-quarter EPS of Rs31.2, up 99% year-on-year, supported by higher oil prices, increased production from the HRL field, the commencement of output from Spinwam, and a tax reversal.
Hub Power, Mari Energies, Cnergyico PK, Ghani Glass and Bank of Punjab added a combined 187 points to the benchmark, while Engro Holdings, UBL, MCB, Engro Fertiliser and Fatima Fertilisers erased 332 points amid selective profit-taking.
Looking ahead, Najib expected the market to remain range-bound as investors await fresh macroeconomic and corporate catalysts. Easing geopolitical tensions, stable oil prices and the ongoing earnings season may support sentiment, although profit-taking at higher levels could keep the benchmark volatile, he added.
Overall, trading volume decreased to 716million shares compared with Thursday’s volume of 793.3million. The value of traded shares stood at Rs34.1billion. Cnergyico PK was the volume leader with trading in 161.2million shares, gaining Rs0.69 to close at Rs11.94. Shares of 492 companies were traded. Of these, 207 stocks jumped, 260 fell, and 25 remained unchanged.Latest News, Breaking News & Top News Stories | The Express TribuneOur CorrespondentRead More