KARACHI: The Pakistan Stock Exchange (PSX) closed lower on Friday as persistent profit-taking, elevated international oil prices and regional geopolitical uncertainty offset positive sentiment surrounding Pakistan’s staff-level agreement with the International Monetary Fund (IMF).
The benchmark KSE-100 Index closed at 167,089.28 points against Thursday’s 167,441.91 points, declining by 352.63 points or 0.21 percent. During the session, the index moved between an intraday high of 168,134.13 points and a low of 166,837.73 points, recording a range of 1,296.40 points.
Business Recorder’s broader market indices also reflected a predominantly negative trend. The BRIndex100 closed at 18,382.20 points, losing 30.28 points or 0.16 percent from the previous close of 18,412.48 points, with a total turnover of 244.491 million shares. The BRIndex30 declined by 169.32 points or 0.26 percent to close at 65,876.08 points compared with 66,045.40 points in the preceding session. Its total volume stood at 147.828 million shares.
Darson Securities noted in its market commentary that the market remained under pressure despite the IMF reaching a staff-level agreement on the fourth review of Pakistan’s USD 7 billion Extended Fund Facility (EFF) and the third review of its USD 1.4 billion Resilience and Sustainability Facility (RSF). The agreements could unlock approximately USD 1.21 billion in disbursements, subject to approval by the IMF Executive Board.
Meanwhile, the Special Convertible Rupee Account (SCRA) balance increased by Rs 2 billion to nearly Rs 30 billion on the back of foreign inflows. However, the absence of fresh market triggers and concerns over inflation and external account pressures kept investors cautious.
Trading activity in the ready market contracted in both volume and value. Total turnover declined to 309.412 million shares from 365.870 million shares on Thursday, representing a decrease of 56.458 million shares or 15.43 percent. The traded value fell by Rs 2.284 billion or 12.89 percent to Rs 15.438 billion from Rs 17.722 billion in the preceding session.
Total market capitalisation decreased by Rs 28.466 billion to Rs 18.569 trillion from Rs 18.598 trillion previously. Despite the decline in the benchmark indices, market breadth in the ready market was positive, with 243 companies closing higher, 203 lower and 51 unchanged out of 497 active issues.
Cnergyico PK led ready-market turnover with 27.277 million shares. The stock closed at Rs 12.52 against the previous close of Rs 12.39.
Pak Refinery ranked second with 24.123 million shares traded. It closed at Rs 93.07 compared with Rs 91.12 previously.
Treet Corp recorded turnover of 22.904 million shares. The stock settled at Rs 23.72 against Rs 22.25.
In ready-market price movements, Khairpur Sugar Mills Limited emerged as the highest gainer, rising by Rs 67.77 to close at Rs 745.47. Sapphire Fibres Limited followed, gaining Rs 39.44 to settle at Rs 1,033.77.
On the losing side, PIA Holding Company Limited (B) recorded the largest decline, shedding Rs 683.50 to close at Rs 14,494.00. Unilever Pakistan Foods Limited followed with a loss of Rs 344.99, settling at Rs 25,055.01.
Among sectoral indices, the BR Automobile Assembler Index shed 27.86 points or 0.13 percent to close at 21,852.95 points, with turnover of 0.736 million shares. The BR Cement Index fell by 35.94 points or 0.31 percent to settle at 11,476.63 points, with 11.714 million shares traded.
The BR Commercial Banks Index declined by 312.43 points or 0.54 percent to close at 57,719.48 points, with turnover of 10.588 million shares. In contrast, the BR Power Generation and Distribution Index was among the few sectoral indices to advance, gaining 65.61 points or 0.26 percent to finish at 25,192.60 points, with 17.012 million shares traded.
The BR Oil and Gas Index lost 22.34 points or 0.15 percent to close at 14,851.56 points, with turnover of 16.404 million shares, while the BR Technology and Communication Index declined by 14.83 points or 0.46 percent to settle at 3,218.42 points, with 33.779 million shares traded.
Analysts expect the market to remain range-bound in the near term as investors weigh progress on the IMF programme and foreign capital inflows against elevated international oil prices, regional geopolitical uncertainty, inflation concerns and external account pressures. They consider the availability of fresh positive triggers and developments affecting commodity prices important factors for the market’s direction.
Copyright Business Recorder, 2026
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