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KARACHI: The Pakistan Stock Exchange (PSX) extended its downward trend on Friday as investors remained cautious amid an uncertain geopolitical situation and a fragile economic outlook.
The benchmark KSE- 100 index closed the final session of the week down by 1,200.45 points, or 0. 79 per cent, at 151,707.52, as profit- taking eroded early gains.
According to Ali Najib, Deputy Head of Trading at Arif Habib Ltd, the market initially opened positively, gaining 478 points following a ‘10- day pause’ announcement by US President Donald Trump. However, this momentum proved short- lived as broad-based selling in the latter half wiped out gains, pushing the index into negative territory by the close.
On the corporate front, Oil and Gas Development Company Ltd (OGDCL) announced a gas discovery at Bilitang-1 ST-1 in Kohat from the Lumshiwal Formation, with tested production of 26.5 million cubic feet per day. The discovery is expected to boost earnings, contributing an estimated Rs0.42, Rs0.66, and Rs4.80 per share annually to OGDCL, Pakistan Petroleum Ltd (PPL), and Pakistan Oilfields Ltd, respectively.
From a macroeconomic perspective, Consumer Price Index-based inflation for March is projected at 7. 6pc year- on- year, reflecting a 1.5pc month-on-month increase, indicating a modest uptick in inflationary pressures.
Profit-taking and geopolitical risks weigh on market sentiment
Meanwhile, Barrick Mining Corporation’s decision to slow progress at the Reko Diq project, citing security concerns, may dampen sentiment in the exploration and production sector. However, the government’s assurance of sufficient petroleum stocks for April and beyond provided some reassurance regarding supply.
Index-heavy stocks such as OGDCL, PPL, National Bank of Pakistan, United Bank Ltd, Mari Energies, Bank Al- Habib Ltd, Pakistan State Oil, Lucky Cement, Habib Bank Ltd, and Engro Fertiliser collectively pulled the benchmark down by 908 points.
Trading activity remained subdued, with total volume dropping by 16.5pc to 435 million shares, while traded value fell by 11.6pc to Rs23.8 billion. K- Electric led the volume chart, with 56.9 million shares traded.
Topline Securities Ltd noted that the market’s downward trend reflected increased investor concerns over Middle East tensions and their potential impact on energy prices, which could intensify inflation risks.
Analysts expect geopolitical developments over the weekend to remain a key factor, with volatile news flow likely to influence the PSX direction in the coming week.
Published in Dawn, March 28th, 2026
