Profit-taking pushes PSX down by 2,321 points
The KSE-100 index of the Pakistan Stock Exchange (PSX) on Friday faced profit-taking, declining about 2,320 points to close slightly above 175,800 amid heightened geopolitical uncertainty triggered by fresh US-Iran airstrikes.
The market traded mixed during the day, with selective buying in the morning session giving way to selling pressure in the latter half as investors opted to book gains ahead of the weekend. At the close of trading, the benchmark KSE-100 index posted a decline of 2,320.78 points, or 1.30%, and settled at 175,802.79.
Arif Habib Limited (AHL) noted that the PSX witnessed a profit-taking session as the KSE-100 dived 2,321 points, or 1.30%, amid geopolitical uncertainty. The market traded on a mixed note during the day. While the morning session showed selective buying interest, profit-taking emerged in the latter half as investors locked in gains ahead of the weekend.
Elevated geopolitical tensions also weighed on sentiment following fresh exchanges of airstrikes between the US and Iran, prompting a cautious stance among market participants. On the macro front, Pakistan recorded a current account deficit (CAD) of $649 million in June, while for FY26 the country posted a marginal CAD of $139 million. Technology exports reached a record $4.6 billion, rising 7.7% year-on-year (YoY).
The Real Effective Exchange Rate (REER) increased to 106.44 in June 2026, its highest level since September 2018, while net FDI inflows stood at $14 million in the month. For FY26, the FDI declined 34% to $1.64 billion. Among individual stocks, Engro, Systems Ltd, OGDC, Pakistan Petroleum, Hubco, Meezan Bank, NBP, and Lucky Cement came under profit-taking pressure, shedding 1,105 points from the index.
Topline Securities, in its market review, said the KSE-100 index remained under pressure throughout the trading session, closing down by 2,321 points (-1.3%). The negative sentiment was largely driven by escalating geopolitical tensions, as reports indicated that the US and Iran had intensified attacks beyond military targets, raising concerns over a broader conflict and the absence of any agreement regarding the Strait of Hormuz.
Among index heavyweights, Engro Holdings, Systems Ltd, UBL, OGDC, and PPL were the biggest drags on the benchmark, collectively shaving off 694 points. On the activity front, OGDC (Rs1.6 billion) led the value chart, followed by Fauji Fertiliser (Rs1.3 billion), Engro Holdings (Rs931 million), NBP (Rs906 million), and Attock Refinery (Rs872 million), Topline said.
The KSE-100 closed down by 2,321 points (-1.3%), as investors remained risk-averse amid heightened geopolitical uncertainty and ahead of the upcoming corporate earnings season, noted Ahmed Sheraz of KTrade. The weakness was in line with the cautious tone seen across global markets, with US equities closing lower overnight, while Asian and European markets also traded under pressure.
Investor sentiment remained subdued, as escalating tensions between the US and Iran kept crude oil prices elevated, raising concerns over inflationary pressures and potential disruptions to global energy supplies. With Friday's session prompting investors to trim positions ahead of the weekend, selling pressure remained broad-based throughout the day, he added.
Overall trading volumes were recorded at 621.02 million shares compared with the previous session's tally of 736.96 million. The value of shares traded during the day was Rs29.88 billion.
Shares of 497 companies were traded. Of these, 101 stocks closed higher, 367 fell, and 29 remained unchanged.
Cnergyico Pk was the volume leader with trading in 86.49 million shares, gaining Rs0.19 to close at Rs9.81. It was followed by TPL Properties with 62.55 million shares, losing Rs0.67 to close at Rs12.10, and Pakistan Refinery with 38.58 million shares, gaining Rs2.94 to close at Rs44.59. Foreign investors bought shares worth Rs1.69 billion, the National Clearing Company reported.