KARACHI: The Pakistan Stock Exchange (PSX) continued its negative streak on Friday. The benchmark KSE-100 index closed lower by 909 points amid a lack of triggers and earnings announcements, which remained below market expectations.
The benchmark KSE-100 Index lost 908.92 points or 0.5 per cent to 179,603.73 points from 180,512.65 points recorded in the last session. The highest index of the day remained at 180,832.66 points, while the lowest was 178,237.14 points.
Ali Najib, deputy head of trading at Arif Habib Ltd, said the PSX extended its losses, breaching the key psychological support level of 180,000 on a closing basis.
Investor confidence remained subdued throughout the sessions amid the absence of any positive catalyst. The breakdown below 180,000 signals potential continuation of downside momentum in the near term.
On the corporate front, PPL reported 2QFY26 EPS of Rs7.46 (down 26 per cent YoY) and declared a DPS of Rs2. The earnings contraction was primarily driven by a 13.2 per cent YoY decline in oil prices, higher operating expenses, lower other income, and an elevated effective tax rate.
“A decisive week ahead for the KSE-100 as the 180k level will likely determine near-term direction with the support of corporate results and value buying. Holding above it may reinforce support and consolidation, while a comprehensive break below could trigger further downside and turn it into resistance,” said Ali Najib.
The KSE-30 index decreased by 379.24 points, or 0.69 per cent, to 54,828.33 points from 55,207.56 points.
Traded shares dropped by 165 million shares to 708.968 million shares from 873.996 million shares. The trading value decreased to Rs38.887 billion from Rs41.766 billion. Market capitalisation narrowed to Rs20.359 trillion against Rs20.438 trillion. Of the 481 companies active in the session, 194 closed in green, 231 in red and 56 remained unchanged.
The highest increase was recorded in PIA Holding Company Limited B, which rose by Rs834.70 to Rs18,694.99 per share, followed by Unilever Pakistan Foods Limited, which increased by Rs354.50 to Rs27,254.50 per share. A significant decline was noted in Sapphire Textile Mills Limited, which fell by Rs66.32 to Rs1,303.68 per share. ZIL Limited followed it, which closed lower by Rs48.75 to Rs505.48 per share.
Nabeel Haroon, VP international equity sales at Topline Securities, said that, with its negative momentum continuing, the KSE-100 Index largely traded in the negative zone during the trading session. This negativity in the market can be attributed to ongoing results sessions, where corporate results have fallen short of investors’ expectations.
The top negative contribution to the index came from LUCK, UBL, OGDC, SYS, EFERT and ENGROH, as they cumulatively weighed down on the index by -685 points.
Traded value-wise, OGDC (Rs4.1 billion), PPL (Rs3 billion), NBP (Rs2.7 billion), LUCK (Rs1.87 billion), ENGROH (Rs1.7 billion) and SYS (Rs1.55 billion) dominated the trading activity.
K-Electric Ltd remained the volume leader with 131.137 million shares, which closed higher by 33 paisas to Rs8.55 per share. Pak Int Bulk with 34.704 million shares, followed it, which closed higher by 14 paisas to Rs19.53 per share.
Other significant turnover stocks included WorldCall Telecom, Dost Steels Ltd, BO Punjab, Hum Network, Nishat ChunPower, Cnergyico PK, F Nat Equities and Beco Steel Ltd.
In the futures market, 328 companies recorded trading, with 114 increasing, 209 decreasing and 5 remaining unchanged.
