Late-session buying trims losses, but profit-taking ahead of the weekend keeps benchmark in negative territory.
KARACHI: The Pakistan Stock Exchange (PSX) ended lower on Friday as a rebound in international oil prices dampened investor sentiment, prompting profit-taking ahead of the weekend despite a late recovery in the benchmark index.
The KSE-100 Index remained under pressure for most of the trading session before buying interest emerged in the final hours, helping the market recover part of its intraday losses. The benchmark ultimately settled at 181,430 points, down 346 points, or 0.19%, from the previous close.
Market participants attributed the subdued sentiment to rising global crude oil prices, which renewed concerns over inflationary pressures and their potential impact on Pakistan’s external account. As a result, investors opted to lock in gains following the market’s recent rally.
Among the index heavyweights, ENGROH, UBL, MCB, EFERT, and FATIMA emerged as the biggest drags on the benchmark, collectively shaving 331 points off the KSE-100 Index.
Despite the weaker close, trading activity remained healthy throughout the session. Total traded volume stood at 714 million shares, while the total traded value reached PKR 34 billion, reflecting continued investor participation.
In terms of traded value, Mari Energies Limited (MARI) topped the market with transactions worth PKR 3.50 billion. It was followed by The Bank of Punjab (BOP) and Cnergyico PK Limited (CNERGY), each recording PKR 1.9 billion in traded value. Maple Leaf Cement Factory (MLCF) ranked fourth with PKR 1.3 billion, while Oil & Gas Development Company Limited (OGDC) completed the top five with PKR 1.2 billion.
Analysts said the late-session recovery indicated that investors remain cautiously optimistic about the market’s outlook despite external uncertainties. However, near-term sentiment is likely to remain sensitive to movements in global oil prices, geopolitical developments, corporate earnings announcements, and broader macroeconomic indicators.