The Pakistan Stock Exchange (PSX) witnessed a day of consolidation on Thursday, with the benchmark KSE-100 index closing almost unchanged. The index posted a marginal gain of 138 points, or 0.08%, to settle at 166,284 points. This came as investor activity remained subdued ahead of the weekend.
The market traded within a tight band throughout the session, reflecting a lack of strong directional momentum. Ali Najib, Deputy Head of Trading at Arif Habib Ltd., noted, “Pakistan Stock Exchange extended its consolidation phase as the KSE-100 Index closed on a flattish note.” The index recorded an intra-day high of 166,837 points and a low of 165,886 points. It moved within a narrow 951-point range.
On the corporate front, Service Industries saw significant buying interest. It surged to its upper circuit limit of 10% after announcing a board meeting scheduled for Friday. Fatima Fertiliser also closed higher after notifying the exchange that its subsidiary, Fatima Petroleum, entered a partnership with Mari Petroleum (MARI) and Turkish Petroleum for two offshore blocks.
In terms of index contribution, major positive movers included SRVI, PIOC, PTC, ENGROH, and PPL. They collectively added 288 points. These gains were partially offset by selling pressure in stocks like FFC, PSEL, MARI, UBL, and MEBL, which together eroded 605 points from the index.
Trading activity remained moderate, with a total volume of 606.6 million shares and a turnover exceeding Rs 31 billion. LPL led the volume chart with 108.9 million shares traded.
Looking ahead to the final session of the week, market analysts anticipate a potential rebound toward the recent weekly high of 169,289 points. The index attempts to challenge its all-time high. On the downside, the zone between 165,000 and 166,000 points is expected to serve as a key support area. It provides a floor for any near-term declines.
