KARACHI: After staying bullish on value-hunting despite high oil prices, regional uncertainties, and economic challenges in the early week, the Pakistan Stock Exchange (PSX) came under heavy profit-taking on Friday, ending its four-session northward run.
Topline Securities Ltd said the market remained largely in negative territory during the week’s final trading session, with the index down 784.19 points, or 0.47 per cent, to close at 166,409 points.
Bearish sentiment was driven mainly by rising crude oil prices, expectations of heightened US-Iran tensions following the US midterm elections, and reported attacks on tankers in the Strait of Hormuz, raising concerns about potential supply disruptions. Additionally, investors resorted to profit-taking after the recent market rally, which was driven by the September quarter financial results.
Index loses 784 points on profit-taking
The top negative contributors to the index were United Bank, Lucky Cement, Habib Bank, Fatima Fertiliser and Attock Refinery, which weighed the index down by 359 points. On the positive side, Engro Fertiliser, Pakistan Oilfield, Meezan Bank, Engro Holdings and OGDC provided support, adding 177 points.
Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said the PSX recorded a negative session, with the index reaching an intraday high of 167,339 and a low of 166,535, closing near the day’s low after failing to sustain early gains.
The market remained volatile amid profit-taking after a four-session recovery of 4,800 points. Investor sentiment turned cautious in the second half as Brent crude surged above $116 per barrel following fresh attacks in the Strait of Hormuz and Houthi strikes on Saudi refineries, raising concerns about energy supply disruption and the external account.
On the macro front, Finance Division projected October inflation at 9.5pc-10.5pc amid elevated energy prices, while diesel crossed the Rs400 mark to Rs400.67 and petrol stood at Rs377.91 per litre.
Market activity remained mixed, with trading volume edging up 1.05pc to 825.46 million shares. However, turnover plunged 26.69pc to Rs23.12 billion.
Published in Dawn, October 31st, 2026
