PSX Gains 266 Points as High Oil Prices Keep Investors Cautious
KARACHI, PAKISTAN — WEB DESK: The Pakistan Stock Exchange (PSX) ended Friday’s session slightly higher after a late recovery pushed the benchmark KSE-100 Index up 266.28 points, while elevated crude oil prices and uncertainty surrounding US-Iran negotiations kept investors cautious.
The KSE-100 closed at 170,765.22 points, gaining 0.16% from its previous close of 170,498.94. Official PSX data confirmed an intraday high of 171,159.73 and a low of 169,890.56, highlighting the market’s range-bound performance.
Despite finishing in positive territory, the market struggled to develop strong momentum for most of the session.
Oil Prices and US-Iran Talks Weigh on Sentiment
Investor caution was primarily linked to elevated international crude oil prices and uncertainty over diplomatic efforts involving Washington and Tehran.
investors largely remained on the sidelines as they monitored energy prices and the absence of meaningful progress in US-Iran negotiations.
Regional financial markets have also been sensitive to developments surrounding the conflict. Reuters reported earlier this week that Gulf markets were subdued as investors assessed the prospects for US-Iran talks alongside continuing geopolitical tensions.
For Pakistan, high international oil prices are particularly significant because of the country’s reliance on imported energy, making sustained increases relevant to inflation, the external account and broader investor sentiment.
Late Rally Lifts KSE-100
According to market commentary cited by The Express Tribune, a late rally pushed the KSE-100 into positive territory after a largely subdued session.
HBL gained 1.13%, UBL rose 0.28% and Bank Alfalah advanced 1.22%, making them some of the strongest positive contributors to the benchmark index.
On the negative side, Meezan Bank fell 0.64%, Fauji Fertiliser declined 0.25% and Hub Power Company dropped 0.31%, weighing on the index.
The mixed performance among major companies reflected the broader lack of a clear market direction.
PSO Gains After FY26 Results
Pakistan State Oil (PSO) gained 0.94% after announcing its FY26 financial results.
PSO reported earnings per share of Rs32.10, representing a 28% year-on-year decline. The brokerage attributed the fall to factors including lower sales volumes, inventory losses, elevated petroleum prices and weaker LNG contribution amid geopolitical tensions.
PSO also announced a final dividend of Rs10 per share for the fourth quarter.
Trading Volume Falls Sharply
Overall market activity declined considerably compared with the previous session.
Around 483 million shares changed hands, down from approximately 760 million shares in the preceding session, while the traded value stood at about Rs19.3 billion.
Official PSX data put regular-market volume at 482.76 million shares, with a traded value of Rs19.28 billion and 291,831 trades.
Market breadth was almost evenly divided. Official PSX figures showed 219 securities advancing, 217 declining and 135 unchanged across 571 symbols.
Cnergyico Leads Trading Volume
Cnergyico PK emerged as the most actively traded stock, with approximately 108 million shares changing hands. It lost Rs0.29 to close at Rs13.18.
WorldCall Telecom followed with around 29 million shares, gaining Rs0.02 to close at Rs1.02, while Pakistan Refinery recorded trading in about 28 million shares and rose Rs0.97 to Rs93.11.
Foreign investors were net sellers of shares worth approximately Rs32.4 million, according to National Clearing Company data cited by the newspaper.
KSE-100 Ends Week Almost Flat
Despite Friday’s late recovery, the benchmark ended the week with almost no net movement.
The KSE-100 was down 119.4 points, or 0.07%, for the week. It remained 6,210.5 points, or 3.51%, lower month-to-date, while its calendar-year performance stood at a decline of 1.89%.
Official PSX data independently confirms the 1.89% year-to-date decline at Friday’s closing level.
The index remains well below its 52-week high of 191,032.73, while staying above its 52-week low of 144,119.44.
Investors Watch Oil and Geopolitical Developments
The market’s next direction is likely to remain sensitive to international energy prices and geopolitical developments.
Arif Habib Limited said the KSE-100 remained in a state of flux, with its near-term bias tilted downward until the index demonstrates a clearer move away from its July lows. This is the brokerage’s market assessment rather than a guaranteed forecast.
For now, Friday’s session reflected a market caught between selective buying and broader caution.
The verified closing position is clear: the KSE-100 gained 266.28 points, or 0.16%, to finish at 170,765.22, with trading volume declining as investors remained cautious over oil prices and geopolitical uncertainty.
