PSX stages sharp rebound as KSE-100 gains 999 points

Benchmark index closes at 173,170 after hitting intraday high of 174,148

KARACHI:

The Pakistan Stock Exchange (PSX) staged a strong recovery on Friday, with the KSE-100 Index closing at 173,170, up 999 points (+0.58%) after hitting an intraday low of 169,593. The benchmark touched a high of 174,148, reflecting heightened volatility throughout the session.

"PSX exhibited consolidation around the 172,000 level, with wide intraday swings of approximately 4,500 points," said Ali Najib, Deputy Head of Trading at Arif Habib Ltd. "Investors were seen responding cautiously after consecutive weeks of losses, but corporate earnings helped stabilise sentiment."

The rebound came after four consecutive weeks of declines, including a sharp drop of 6,683 points on Thursday triggered by geopolitical tensions between the United States and Iran. Concerns over rising international oil prices and uncertainty in global markets also weighed on investor sentiment earlier in the week.

Read: Investment stuck at 13.8% of GDP

On the corporate front, Indus Motor Company (INDU) reported strong results, posting a 23% year-on-year increase in 2QFY26 profit after tax of Rs5.98 billion (EPS 76.11) and declaring a quarterly dividend of Rs46 per share. Cumulatively, 1HFY26 earnings rose 28% YoY to Rs12.7 billion (EPS 161.60), marking the highest half-year profit since 2014.

Other major contributors included OGDC, MLCF, PPL, SYS, and FFC, which collectively added 584 points to the index. Conversely, MCB, TRG, PSEL, BAFL, and FATIMA faced selling pressure, trimming 243 points from the overall gains.

Trading activity remained relatively stable, with total volumes of 533.6 million shares and turnover of Rs23.7 billion. K-Electric (KEL) led the volumes chart with 73.1 million shares traded.

Analysts observed that the 170,000 level acted as a strong support during the session, preventing further declines. With markets still sensitive to global developments and local corporate earnings, the KSE-100 is expected to remain range-bound between 170,000 and 180,000, with 170,000 as key support and 180,000 as immediate resistance.