Pakistan’s benchmark index, KSE-100, closed in the red, down 830.92 points from its previous close of 168,893.08.

The index saw significant volatility, swinging between an intraday high of 169,379.97 points and a low of 165,811.87 points. It dropped over 1,000 points during the morning session, recovered slightly by midday, but ultimately fell into the red to close at 168,062.16 points.

Trading activity remained reasonable, with volumes recorded at 222,442,620 shares, at a value of Rs18,971,818,996.

Among the most active stocks, Unity Foods Limited led the volumes chart, falling 9.96 per cent to Rs10.67 on 50,304,604 shares. It was followed by First National Equities Limited, which gained 1.32pc to Rs1.54 on 36,245,681 shares, and The Bank of Punjab, which declined 0.35pc to Rs31.70 on 30,604,655 shares.

On the gaining side, Gulistan Spinning Mills Limited emerged as the top advancer, climbing 19.42pc to Rs6.15. Media Times Limited followed with an 11.04pc increase to Rs6.54, while Paramount Spinning Mills Limited rose 10.77pc to Rs5.76.

Meanwhile, the decliners were led by LOADS Limited (Right), which plunged 37.5pc to Rs0.40. Gulshan Spinning Mills Limited fell 10.21pc to Rs4.22, and Escorts Investment Bank Limited slipped 10.01pc to Rs21.57.

This dip in the market came as Pakistan has launched Operation Ghazab lil-Haq against the Afghan Taliban after “unprovoked firing” from across the border.

On Thursday, the benchmark index recovered slightly, gaining 4,266.79 points after this week’s previous sessions saw a sustained sell-off.

In company news, Engro Holdings (ENGROH) released its results for the fourth quarter of 2025 on Friday. The results were better than expected due to lower than expected Effective Tax Rate (ETR), according to analysts at Topline Securities.

Engro Holdings Limited closed 0.78pc higher, trading at Rs271.34.