KARACHI: The Pakistan Stock Exchange (PSX) succumbed to profit-taking on Friday as investors trimmed positions ahead of the weekend amid reports of delays in negotiations over a permanent US-Iran peace agreement and Tehran’s nuclear programme, dragging the benchmark KSE-100 Index back below the 179,000-point level.
The benchmark KSE-100 Index plunged by 2,475.46 points, or 1.36 percent, to close at 178,922.76 points compared to the previous close of 181,398.22 points.
The market remained volatile throughout the session, with the benchmark touching an intraday high of 182,185.87 points before retreating sharply to an intraday low of 177,836.16 points as investors resorted to widespread profit-booking, particularly in blue-chip cyclical stocks.
BRIndex100 closed at 19,844.46 points, down by 322.22 points or 1.60 percent from the previous session. Total turnover stood at 804.76 million shares. BRIndex30 settled at 72,590.00 points, down by 1,738.74 points or 2.34 percent from the previous close. Total turnover on BRIndex30 stood at 481.39 million shares.
Commenting on the market performance, Ali Najib, Deputy Head of Trading at Arif Habib Limited, said the market witnessed a profit-taking session as investor sentiment remained cautious, with market participants locking in gains ahead of the weekend.
He noted that sentiment was further dampened by reports of delays in negotiations over a permanent US-Iran peace agreement and Tehran’s nuclear programme after renewed hostilities in southern Lebanon prompted Iran to postpone its participation in talks scheduled to take place in Switzerland.
According to Ali Najib, PSX, Sui Northern Gas Pipelines (SNGP), Sui Southern Gas Company (SSGC), Pakgen Power (PKGS) and Shifa International Hospitals (SHIF) collectively added 80 points to the benchmark index, while United Bank Limited (UBL), Fauji Fertilizer Company (FFC), Engro Holdings (ENGROH), Pakistan Petroleum Limited (PPL) and Oil and Gas Development Company (OGDC) erased 897 points from the benchmark.
Market liquidity weakened as ready market turnover declined to 1.050 billion shares from 1.242 billion shares in the previous session. Similarly, the value of traded shares dropped to Rs54.14 billion compared to Rs58.01 billion recorded a day earlier.
Market capitalization also contracted sharply, falling to Rs19.995 trillion from Rs20.246 trillion previously, reflecting a decline of approximately Rs251.52 billion.
Overall market breadth remained decisively negative. In the ready market, only 141 companies closed higher, while 329 declined and 27 remained unchanged out of 497 active companies.
Trading activity in the ready market was led by Sui Southern Gas Company, which recorded a turnover of 87.35 million shares and closed at Rs31.32. Kohinoor Spinning followed with 80.62 million shares and closed at Rs6.96, while TPL Corp recorded a turnover of 47.05 million shares and closed sharply lower at Rs15.72.
On the price performance front, PIA Holding Company Limited (B) emerged as the top gainer in absolute terms, rising by Rs100 to close at Rs18,000, followed by Pakistan Engineering Company Limited, which advanced by Rs77.44 to settle at Rs851.83. On the downside, Service Industries Limited shed Rs99.84 to close at Rs2,204.06, while Rafhan Maize Products Company Limited declined by Rs49.12 to settle at Rs9,556.33.
The BR Tech and Communication Index emerged as the worst-performing sector, declining by 90.60 points, or 2.24 percent, to close at 3,953.61 points despite generating a robust turnover of 130.82 million shares.
The BR Cement Index fell by 235.62 points, or 1.80 percent, to settle at 12,875.84 points on a turnover of 54.93 million shares, while the BR Oil and Gas Index declined by 224.46 points, or 1.43 percent, to close at 15,480.15 points with 160.01 million shares traded, the highest sectoral turnover among all BR indices.
The BR Automobile Assembler Index also remained under pressure, losing 342.70 points, or 1.19 percent, to settle at 28,340.31 points on a turnover of 3.87 million shares. Likewise, the BR Commercial Banks Index shed 714.27 points, or 1.18 percent, to close at 59,998.96 points with volumes of 62.35 million shares, while the BR Power Generation and Distribution Index declined by 341.94 points, or 1.14 percent, to settle at 29,546.15 points on a turnover of 90.13 million shares.
Market participants are expected to remain cautious in the near term as they closely monitor geopolitical developments in the Middle East, although improving macroeconomic fundamentals, a stable interest rate outlook and expectations of lower energy prices continue to support the broader market trend.
Copyright Business Recorder, 2026
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