KARACHI, May 23, 2025 — The Pakistan Stock Exchange (PSX) witnessed a subdued session on Friday as the benchmark KSE-100 index closed slightly lower, shedding 50 points in a lackluster and range-bound trading environment.
The KSE-100 index concluded the day at 119,103 points, down from the previous close of 119,153 points. The minor decline of 0.04% reflects the market’s cautious sentiment following last week’s upward momentum. Analysts noted that after a flurry of activity in earlier sessions, the market paused to catch its breath, with trading volumes remaining relatively low throughout the day.
Despite the overall dip, select stocks offered some support to the KSE-100 index. Major gainers included ENGRO, Attock Refinery Limited (ATRL), and Pakistan GasPort (PKGP), which collectively helped cushion the index from a deeper fall. On the other hand, investors opted for profit-taking in prominent names such as Fauji Fertilizer Company (FFC), MCB Bank, and Systems Limited (SYS), putting downward pressure on the index.
Sector-wise, the refinery and technology sectors remained active and showed signs of resilience, generating investor interest despite the broader market’s lackluster tone. Meanwhile, gold prices eased slightly, aligning with an improving economic outlook as stability returns to the macroeconomic front.
A significant positive development was the State Bank of Pakistan’s (SBP) foreign exchange reserves, which climbed to a 14-month high of $11.44 billion. This surge was largely attributed to a fresh tranche received from the International Monetary Fund (IMF), enhancing investor confidence and offering some much-needed stability to the financial landscape.
Looking ahead, analysts expect the KSE-100 index to continue trading within a narrow band in the coming sessions, especially with the upcoming public holiday on May 28 potentially reducing participation. Market players are now shifting their focus toward the federal budget announcement scheduled for June 10, which is expected to shape near-term investor sentiment and possibly set the tone for the KSE-100 index’s next big move.
In summary, while the KSE-100 index lost 50 points, market participants remain cautiously optimistic, awaiting clearer signals from fiscal and economic policy fronts.