KARACHI:
Pakistan’s inventory market prolonged its bearish spell on Friday because the benchmark KSE-100 index fell over 900 factors amid disappointing company earnings and cautious investor sentiment throughout the ongoing outcome season.
Market exercise remained subdued, whereas overseas buyers offloaded shares price Rs4.2 billion, including to stress on equities regardless of a late-session restoration that helped the index maintain above key help ranges. Main drags on the index included heavyweight shares from cement, banking, fertiliser, expertise, and oil and gasoline sectors, with Fortunate Cement, UBL, OGDC, Methods Ltd, Engro Fertilisers and Engro Holdings collectively erasing tons of of factors.
Analysts attributed the market weak spot to earnings falling wanting expectations, although the index managed to maintain above essential technical ranges, preserving buyers centered on upcoming developments and the 180,000-point mark as a decisive support-resistance zone.
On the shut of buying and selling, the KSE-100 index posted a decline of 908.92 factors, or 0.50%, and settled at 179,603.73.
Arif Habib Restricted (AHL) famous that the KSE-100 recorded its third consecutive weekly decline, shedding 2.46% week-on-week. On Friday, the market breadth remained unfavourable with 43 shares advancing whereas 56 declined. Key optimistic contributors included Habib Metropolitan Financial institution (+4.68%), NBP (+1.72%) and Okay-Electrical (+4.02%), whereas Fortunate Cement (-2.54%), UBL (-1%), and OGDC (-1.91%) weighed on the index.
Amongst company developments, Pakistan Petroleum introduced its 2QFY26 monetary outcomes, posting earnings per share of Rs7.46, down 26% year-on-year, together with a dividend of Rs2 per share. The earnings decline was attributed primarily to a 13.2% YoY drop in oil costs, larger working bills, lowered different earnings, and an elevated efficient tax price.
On the macro entrance, Pakistan attracted its largest month-to-month internet overseas inflows into sovereign bonds since June 2024, with January inflows reaching $176 million in comparison with internet withdrawals of $50 million in the identical month of final yr. Trying forward, AHL highlighted an vital week for the KSE-100, with the 180,000 degree anticipated to find out whether or not it acts as a key help or resistance zone.
Topline’s market assessment famous that persevering with its unfavourable momentum, the KSE-100 largely traded within the unfavourable zone to settle at 179,604 (down by 0.50%). The negativity might be attributed to the outcomes season, the place company earnings have fallen wanting buyers’ expectations.
The highest unfavourable contribution to the index got here from Fortunate Cement, UBL, OGDC, Methods Ltd, Engro Fertilisers and Engro Holdings, as they cumulatively erased 685 factors. Traded value-wise, OGDC (Rs4.1 billion), Pakistan Petroleum (Rs3 billion), NBP (Rs2.7 billion), Fortunate Cement (Rs1.87 billion), Engro Holdings (Rs1.7 billion) and Methods Ltd (Rs1.55 billion) dominated the exercise, Topline mentioned.
Muhammad Hasan Ather of JS International mentioned that the KSE-100 declined by 909 factors, however managed to carry above key help ranges. The market witnessed a late-session restoration amid the broader bearish development, sustaining above the 178,500 help degree. Main laggards included cement, fertiliser, oil & gasoline, and banking shares. “We imagine that any significant developments concerning the Reko Diq challenge will stay pivotal in shaping market sentiment going ahead,” he mentioned.
Nasheed Malik, Head of Analysis at Development Securities, mentioned overseas corporates led broad-based promoting price Rs4.2 billion throughout key sectors, reflecting short-term considerations tied to geopolitical and safety uncertainties, together with developments round Reko Diq and Balochistan.
Nevertheless, he famous that robust home liquidity and unallocated institutional funds might help the market as soon as situations stabilise, with overseas funding more likely to return over the long term.
General buying and selling quantity was recorded at 709 million shares in contrast with the earlier session’s tally of 874 million. The worth of shares traded throughout the day was Rs38.9 billion.
Shares of 481 corporations have been traded. Of those, 194 shares closed larger, 231 fell, and 56 remained unchanged.
Okay-Electrical was the quantity chief with buying and selling in 131.1 million shares, gaining Rs0.33 to shut at Rs8.55. It was adopted by Pakistan Worldwide Bulk Terminal with 34.7 million shares, gaining Rs0.14 to shut at Rs19.53, and WorldCall Telecom with 33.8 million shares, shedding Rs0.02 to shut at Rs1.63.
