KARACHI: Despite initial value-hunting, the Pakistan Stock Exchange (PSX) on Friday remained on a declining slope as jittery investors preferred to take profits, forcing the benchmark KSE-100 index to settle below the 180,000-point milestone amid below-market corporate results.

Ali Najib, Deputy Head of Trading at Arif Habib Ltd (AHL), said the PSX extended its losses, with the KSE-100 index declining by 908.92 points or 0.50 per cent to close at 179,604, breaching the key psychological support level of 180,000 on a closing basis.

Investor confidence remained subdued throughout the sessions amid the absence of any positive catalyst. The breakdown below 180,000 signals the potential for continued downside momentum in the near term.

On the corporate front, Pakistan Petroleum Ltd (PPL) reported 2QFY26 earnings per share of Rs7.46, down 26pc year-on-year and declared a dividend of Rs2. The earnings contraction was primarily driven by a 13.2pc YoY decline in oil prices, higher operating expenses, lower other income, and an elevated effective tax rate.

Meanwhile, Clover Pakistan announced a stock split, subdividing its face value from Rs10 to Re1 per share.

Index heavyweights, including Lucky Cement, United Bank Ltd, Oil and Gas Development Company Ltd, Systems Ltd, Engro Fertiliser, Engro Holdings, Fatima Fertiliser, Bank of Punjab, and Hub Power, collectively shaved 845 points off the benchmark.

K-Electric continued topping the volume chart with 131 million shares after the company’s board appointed an interim CEO following Moonis Alvi’s stepping down last week.

Topline Securities Ltd said continuing its negative momentum, the index largely traded in the negative zone during the session. This market negativity can be attributed to ongoing results sessions, during which corporate results have fallen short of investors’ expectations.

Market activity slowed as trading volume fell 18.88pc to 709m shares, while traded value fell 6.89pc to Rs39 billion.

Analysts think the next week will be decisive for the index, as the 180,000 level will likely determine near-term direction, supported by corporate results and value buying. Holding above it may reinforce support and consolidation, while a comprehensive break below could trigger further downside and turn it into resistance.

Published in Dawn, February 14th, 2026