KARACHI: The Pakistan Stock Exchange (PSX) experienced another volatile trading session on Friday, but the benchmark KSE-100 index managed to extend its record-setting streak for a second consecutive day, closing with a marginal gain above the 158,000-point barrier for the first time.

According to Topline Securities, after a strong performance in global markets overnight, local trading showed mixed sentiment, with investors torn between optimism and caution.

The market saw a range-bound session, as bullish momentum met resistance from those looking to book profits ahead of the futures contract roll-over week. The index fluctuated between an intraday high of 1,384 points (0.88pc) and a low of 431 points (0.27pc), eventually settling 0.05pc higher at 158,037 points.

The movement highlighted investor caution, with market participants taking a wait-and-see approach amid high levels and upcoming derivatives expiry. The top contributors to the index included Hub Power, Oil and Gas Development Company, Bank of Punjab, Systems Ltd, and PSO, which collectively added 663 points. However, losses from United Bank, Engro Holdings, Habib Bank, Fauji Fertiliser, and Mari Energies offset the gains, weighing down the index by 248 points.

Ali Najib, Deputy Head of Trading at Arif Habib Ltd, noted that the KSE-100 had a roller-coaster week but ultimately managed to defend the 158,000-point mark. The index reached an intraday peak of 159,337 points before retreating to 157,522 points in the afternoon session.

On the macroeconomic front, the current account deficit widened to $245 million in August, compared to $82 million last year, pushing the cumulative shortfall for the first two months of FY26 to $624 million, up from $430 million during the same period in FY25. This points to growing external economic pressures.

Market participation increased, with trading volume rising by 4.52pc to over 2 billion shares. The value of trades surged by 21.67pc, reaching Rs69.2bn. Cnergyico PK emerged as the most traded stock, with 170.2 million shares changing hands.Looking ahead, the KSE-100 is trading in the 155,000-158,000 range, and a breakout above this band could push the index to new highs.

Published in Dawn, September 20th, 2025