Stocks end week with loss of 478 points as profit-taking persists

KARACHI: The Pakistan Stock Exchange (PSX) continued its downward trend for a third consecutive session on Friday, as profit-taking triggered selling pressure, dragging the benchmark KSE-100 index lower.

The KSE-100 index closed at 112,085.3, down 478.78 points or 0.43 per cent, after a range-bound trading session. The index fluctuated within a range of 1,620.56 points, reaching an intraday high of 113,482.12 (+918.05) and a low of 111,861.56 (-702.51).

“Stocks closed lower amid institutional profit-taking in blue-chip scrips, driven by concerns over global market volatility following US President Donald Trump’s proposal for reciprocal tariffs on multiple trading partners,” said an analyst at Arif Habib Corp.

He added that currency instability, declining foreign exchange reserves due to debt repayments, foreign outflows, and uncertainty surrounding Pakistan’s upcoming International Monetary Fund (IMF) review were key factors behind the bearish close.

According to Topline Securities, the KSE-100 index opened on a positive note, gaining 918 points during early trade. However, investor sentiment turned jittery, leading to selling pressure in the closing hours, pulling the index down to 112,085.

On the positive side, LUCK, FFC, LCI, and NBP contributed a combined 486 points to the index. Conversely, declines in ENGROH, PPL, PSO, OGDC, and MEBL collectively wiped out 583 points.

In terms of trading value, PSO led with Rs1.97 billion in turnover, followed by NBP (Rs1.21 billion), DGKC (Rs1.04 billion), HUBC (Rs1.02 billion), BOP (Rs792 million), and LUCK (Rs733 million).

Sector-wise, the biggest drags on the index came from oil and gas exploration (-250.11 points), investment banks and securities companies (-233.17 points), oil and gas marketing (-144.34 points), commercial banks (-76.67 points), and textile composites (-48.42 points). In contrast, the cement sector contributed 335.12 points, followed by fertilizers (+80.82 points), miscellaneous industries (+21.82 points), paper and packaging (+19.48 points), and power generation (+13.85 points).

Hub Power Company (HUBC) announced that its wholly owned subsidiary, Hub Power Holdings Limited, has formed Hubco Green (Private) Limited to establish and operate electric vehicle (EV) charging infrastructure in Pakistan. Hubco Green will collaborate with PSO to install EV charging stations at multiple PSO locations nationwide.

Among the biggest losers were MEHT (-7.73 per cent), BOP (-6.41 per cent), LOTCHEM (-4.85 per cent), PAEL (-4.84 per cent), and PSO (-4.22 per cent). Meanwhile, top gainers included LUCK (+10.00 per cent), LCI (+6.02 per cent), PKGS (+4.25 per cent), KOHC (+3.36 per cent), and PSEL (+3.30 per cent).

In terms of index impact, ENGROH (-226.45 points), PPL (-116.88 points), PSO (-101.86 points), OGDC (-95.85 points), and MEBL (-42.01 points) dragged the market lower. On the upside, LUCK (+354.99 points), FFC (+72.18 points), LCI (+30.24 points), NBP (+28.82 points), and PSEL (+26.84 points) provided support.

The total trading volume for the KSE-100 index stood at 238.58 million shares, with 35 companies closing higher, 62 declining, and three remaining unchanged.