KARACHI: The Pakistan Stock Exchange (PSX) snapped a three-session losing streak on Friday as investors cherry-picked stocks despite heightened geopolitical tensions that fuelled concerns over inflation amid rising oil prices.
The benchmark KSE-100 index gained 546.13 points, or 0.31 per cent, to close at 176,094.12.
According to Ali Najib, deputy head of Trading at Arif Habib Ltd, the market witnessed a mixed session. The benchmark opened on a firm footing and climbed to an intraday high of 177,109, up 1,561 points, before surrendering a large part of its gains in late trade as investors booked profits ahead of the weekend.
On the corporate front, Maple Leaf Cement Factory Ltd (MLCF) reported a consolidated profit attributable to equity holders of Rs4.27 billion for the fourth quarter of FY26, translating into earnings per share (EPS) of Rs4.08.
Index recovers 546 points on value-hunting despite oil-led inflation fears
The result was up 18pc year-on-year and more than four times higher than the preceding quarter, taking full-year EPS to Rs11.34, an increase of 3pc from a year earlier.
The earnings growth was primarily driven by the acquisition of Pioneer Cement Ltd. The company did not announce a cash dividend.
Meanwhile, Askari Bank posted a profit after tax of Rs13.33bn for the first half of 2026, with EPS of Rs9.20, reflecting a 25pc increase over the corresponding period last year. The bank also declared a second interim cash dividend of Rs2 per share, taking the cumulative payout to Rs4 per share.
Among index-heavy stocks, Engro Holdings, Habib Bank, Lucky Cement, Bank Al Habib and Askari Bank collectively contributed 250 points to the benchmark index.
In contrast, Engro Fertilisers, United Bank, Habib Metropolitan Bank, Javedan Corporation Ltd and MLCF together wiped out 101 points as investors engaged in selective profit-taking.
Trading activity remained robust, with 879 million shares changing hands and the traded value reaching Rs24.9bn.
Analysts expect market sentiment to remain broadly constructive, supported by the ongoing corporate earnings season and improving macroeconomic indicators. However, geopolitical developments and upcoming financial results are likely to dictate the market’s near-term direction.
Published in Dawn, August 1st, 2026
