KARACHI: The Pakistan Stock Exchange (PSX) came under extreme selling pressure on Friday, pushing the benchmark KSE-100 index below 170,000 points during intraday trading. However, value-hunting helped the index trim some of its early losses, but it remained in the red for the third consecutive session.
Topline Securities Ltd said the index traded largely in negative territory throughout the session, primarily due to a sharp rise in crude oil prices, which surged to around $100 per barrel.
During intraday trading, the index fell 2,226.57 points to 169,512.88. However, in the latter half of the session, investor sentiment improved after crude oil prices pulled back, leading to a partial recovery of 979 points to 172,718.67. Consequently, the index settled at 171,021.20 points, down 718.25 points or 0.42 per cent for the day.
Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said the PSX recorded a mixed session, with the market opening on a weak note as persistent geopolitical tensions in the Middle East continued to weigh on investor sentiment. Concerns over the ongoing conflict kept international oil prices and global borrowing costs elevated, prompting investors to maintain a cautious, risk-off stance.
On the macro front, the Sensitive Price Index (SPI) for the week ended July 23 increased 9.66pc year-on-year and 0.91pc week-on-week.
On the index contribution front, Adamjee Insurance, TRG Pakistan, Meezan Bank, Engro Holdings, and Fauji Cement collectively added 117 points to the benchmark index. Conversely, United Bank, National Bank, Systems Ltd, Habib Bank, and Fauji Fertiliser collectively erased 436 points amid selective selling pressure.
Investor participation improved over the previous session, with trading volume rising 10.43pc to 579.9 million shares and turnover value inching up 1.99pc to Rs23.8 billion. Cnergyico PK topped the volume chart with 59.3 million shares traded.
Analysts expect that the market will continue to be influenced primarily by geopolitical developments and their effects on international oil prices. Although volatility may persist in the short term, attractive valuations could still motivate selective buying if external risks start to diminish.
Published in Dawn, July 25th, 2026
