RECORDER REPORT

KARACHI: The Pakistan Stock Exchange (PSX) closed Friday’s session on a subdued note as sustained selling pressure across key sectors dragged benchmark indices lower, overshadowing selective buying interest and active participation in both the ready and futures markets.

The benchmark KSE-100 Index witnessed a volatile trading session and settled at 179,603.73 points, marking a decline of 908.92 points or 0.50 percent compared to the previous close of 180,512.65 points. The index largely traded in negative territory during the day, touching an intraday high of 180,832.66 points before sliding to a low of 178,237.14 points.

On Friday, the BRIndex100 closed at 20,325.04 points, registering a decline of 80.31 points, or 0.39 percent, compared to the previous session. Total turnover on the index stood at 540.72 million shares. In contrast, the BRIndex30 edged higher by 143.49 points, or 0.19 percent, to close at 74,036.48 points, with a trading volume of 386.33 million shares.

According to Topline Securities, the KSE-100 Index continued its negative momentum as the market remained under pressure amid the ongoing corporate results season, where several announced results fell short of investor expectations.

Topline noted that the leading negative contribution to the benchmark came from Lucky Cement (LUCK), United Bank Limited (UBL), Oil and Gas Development Company (OGDC), Systems Limited (SYS), Engro Fertilizers (EFERT), and Engro Holdings (ENGROH), which cumulatively shaved 685 points off the index. The brokerage added that sentiment remained cautious despite active trading, as earnings-related disappointment kept investors on the sidelines.

Investor wealth eroded during the session, with total market capitalization declining to Rs20.36 trillion, down from Rs20.44 trillion in the previous session, translating into a loss of approximately Rs79 billion.

Market breadth reflected broad-based weakness. In the Ready Market, 194 stocks advanced, 231 declined, and 56 remained unchanged out of 481 traded companies.

Trading activity remained concentrated in a handful of large-cap stocks. K-Electric Limited topped the volume chart with 131.14 million shares, closing higher at Rs8.55. Pakistan International Bulk Terminal followed with 34.70 million shares, ending at Rs19.53, while WorldCall Telecom traded 33.83 million shares, closing at Rs1.63. Other actively traded stocks included Dost Steels Limited, Bank of Punjab, Hum Network, Nishat Chunian Power, Cnergyico PK, First National Equities, and Beco Steel Limited, reflecting continued investor interest despite weak prices.

On the price front, selective stocks managed to post notable gains. PIA Holding Company Limited (B) emerged as the top gainer, surging Rs834.70 to close at Rs18,694.99, while Unilever Pakistan Foods Limited advanced Rs354.50 to Rs27,254.50. On the losing side, Sapphire Textile Mills Limited declined by Rs66.32 to Rs1,303.68, while ZIL Limited shed Rs48.75 to close at Rs505.48, reflecting selective profit-taking.

Sector-wise performance under the BR indices remained mixed. The BR Automobile Assembler Index closed marginally higher at 27,971.29 points, gaining 30.51 points, or 0.11 percent, with a turnover of 6.38 million shares. The BR Cement Index, however, ended lower, shedding 154.16 points, or 1.16 percent, to close at 13,117.05 points, on volumes of 18.24 million shares.

The BR Commercial Banks Index also finished in negative territory, declining by 176.69 points, or 0.28 percent, to 62,172.84 points, with a total turnover of 51.87 million shares. Meanwhile, the BR Power Generation and Distribution Index emerged as a modest gainer, rising 72.80 points, or 0.25 percent, to close at 28,645.32 points, supported by a healthy turnover of 173.17 million shares.

Weakness persisted in energy-related sectors, as the BR Oil and Gas Index fell 128.69 points, or 0.85 percent, to 15,030.41 points, with volumes of 51.51 million shares. The BR Technology and Communication Index also closed lower, slipping 27.31 points, or 0.69 percent, to settle at 3,937.68 points, on a turnover of 97.53 million shares.

Overall, Friday’s session at the Pakistan Stock Exchange was characterized by broad-based selling, earnings-related caution, and sustained pressure on index-heavy stocks. While liquidity remained healthy, the negative market breadth and decline in benchmark indices reflected investor wariness, with participants expected to closely monitor upcoming corporate results, macroeconomic indicators, and policy developments for clearer direction in the sessions ahead.