PSX Gains Nearly 400 Points as OGDC Posts Record FY26 Earnings
KARACHI, PAKISTAN — WEB DESK: The Pakistan Stock Exchange (PSX) ended the week on a positive note as the benchmark KSE-100 Index gained nearly 400 points, supported by strong performances in selected banking and energy stocks and record earnings from Oil and Gas Development Company (OGDC).
The KSE-100 Index closed 0.23% higher at 175,328.82 points on Friday. Despite the session’s recovery, the benchmark finished the week 1.33% lower, reflecting continued investor caution and largely range-bound trading.
According to Arif Habib Limited, 60 stocks on the benchmark index advanced while 38 declined. Meezan Bank, Bank AL Habib and Mari Energies were among the strongest positive contributors, while United Bank, Attock Refinery and Pakistan Services weighed on the index.
Market attention was particularly focused on OGDC, which reported fourth-quarter FY26 profit of Rs127.1 billion, representing a 3.1-times year-on-year increase. Earnings per share rose to Rs29.55 from Rs9.37 in the comparable period. Higher oil prices, increased hydrocarbon production and reversal of a super-tax provision supported the result.
For the full fiscal year, OGDC’s earnings per share climbed 43% year-on-year to Rs56.35. The company announced a Rs6-per-share fourth-quarter dividend, taking its total FY26 payout to a record Rs17 per share. A Rs44 billion super-tax reversal also contributed to its fourth-quarter performance.
Topline Securities said MEBL, BAHL, MARI, PPL and OGDC collectively added about 250 points to the benchmark index. In contrast, UBL, ATRL, PSEL, CNERGY and FFC together shaved around 212 points off the index.
Investors were also assessing reports that the federal government could reduce the ceiling on high-speed diesel refining margins from $41.89 to $30 per barrel. Such a change could put pressure on refinery profitability and contributed to caution toward the sector.
Trading activity, however, strengthened considerably. Overall volume increased to 874 million shares from 627 million shares in the previous session, while the value of traded shares reached Rs32.4 billion. Of 496 companies traded, 235 advanced, 218 declined and 43 closed unchanged.
OGDC led the market by traded value at Rs2.82 billion, followed by Cnergyico at Rs2.06 billion and Pakistan Petroleum at Rs2 billion. Cnergyico was the overall volume leader, with around 149 million shares changing hands.
Foreign investors, meanwhile, were net sellers, offloading shares worth Rs198 million, according to National Clearing Company data cited in the market report.
The session therefore delivered a modest recovery rather than a broad market rally. OGDC’s strong financial performance provided support, but cautious positioning, refinery-margin concerns and the KSE-100’s weekly decline indicated that investors remained selective heading into the next trading week.
