PSX sheds 481 points amid muted participation

Pakistan Stock Exchange (PSX) extended its losing streak on Friday, with the benchmark KSE-100 index falling over 480 points amid subdued investor participation, elevated crude oil prices and continued uncertainty over US-Iran relations. The index closed at 168,155 points, taking its weekly decline to 1.52%, according to market analysts. Selling pressure was broad-based, with 321 stocks closing lower against 128 gainers. Arif Habib Limited (AHL) noted that the PSX saw further weakness heading into the weekend, with the KSE-100 index losing 1.52% week-over-week. On Friday, 24 shares rose while 72 fell. UBL (+0.76%), Mari Energies (+1.09%) and OGDC (+0.39%) contributed the most to the index gains, while Systems Ltd (-2.11%), Meezan Bank (-0.88%) and Lucky Cement (-0.63%) were the biggest drags. The KSE-100 closed at 168,155.5, down 481.4 points, or 0.29%. Pakistan could secure a "B+" sovereign credit rating by the first quarter (July-September) of fiscal year 2027-28, Finance Minister Muhammad Aurangzeb said on Thursday. He cautioned, however, that it was too early to determine whether the country's current $7 billion Extended Fund Facility with the IMF would be its last. Separately, Khaadi Pakistan, one of the country's leading fashion retailers, planned to raise up to Rs8.3 billion through a combination of pre-IPO placement and an IPO to expand its retail footprint and convert its outlets into larger "Experience Stores," as per AHL. Pakistan recorded a trade deficit of $3.6 billion in September 2026. Exports for the month amounted to $2.9 billion, up 17.6% year-on-year and 16.1% month-on-month. Imports rose to $6.5 billion, an 11% year-on-year increase and an 11.5% month-on-month rise. "The index's outlook for the coming week remains focused on a potential move towards the September low near 166,000," it said. Topline's market review noted that the KSE-100 index largely traded in negative territory during the session and settled at 168,155 points, down 0.29%. Investor participation remained subdued amid a lack of fresh triggers, elevated crude oil prices and the ongoing stalemate in US-Iran relations. Market activity remained muted, with traded volume and value recorded at 494 million shares and Rs17.49 billion, respectively. Top negative contributors to the index were SYS, MEBL, LUCK, NBP and HBL, as they cumulatively wiped off 269 points. Traded value-wise, Maple Leaf Cement (Rs648 million), Askari Bank (Rs638 million), OGDC (Rs577 million), PPL (Rs543 million) and DG Khan Cement (Rs372 million) dominated the activity. Overall trading volumes were recorded at 494 million shares in the ready market compared with the previous session's tally of 548.38 million. The value of shares traded during the day was Rs17.5 billion. Shares of 494 companies were traded. Of these, 128 stocks closed higher, 321 fell and 45 remained unchanged. First National Equities was the volume leader with trading in 42.51 million shares, gaining Rs0.01 to close at Rs1.22. It was followed by WorldCall Telecom with 40.08 million shares, closing unchanged at Re1 and DS Industries with 29.51 million shares, gaining Rs1.57 to close at Rs17.25. Foreign investors bought shares worth Rs250.8 million, the National Clearing Company reported.