The Pakistan Stock Exchange remained volatile throughout the session. Investors struggled to find a clear direction amid encouraging macroeconomic data and persistent sector-specific pressures. The benchmark KSE-100 index closed marginally lower, reflecting cautious sentiment. It also showed continued consolidation following recent gains.
The index moved within a wide intraday range, reaching a high of 171,392.63 and a low of 169,230.50 before settling at 169,933.85. This marked a decline of 133.44 points, or 0.08 per cent, on a day-on-day basis.
Positive developments on the external front supported market sentiment. Pakistan’s current account recorded a $100 million surplus in November 2025. This was a sharp turnaround from a $291 million deficit in October. Adding to the upbeat outlook, IT exports rose 14 per cent year-on-year to $356 million in November.
Despite these positives, gains remained capped due to weakness in the energy sector. Power generation remained flat year over year at 8.05 thousand gigawatt hours in November. Moreover, it fell sharply from 9.9 thousand gigawatt-hours in October, weighing on investor sentiment toward energy-related stocks.
Read: Pakistan Stock Exchange Closes at New All-Time High Above 170,700 Points
The market largely traded in a narrow range as profit-taking and apparent mutual fund redemptions pressured select sectors. These sectors included cement and energy. Meanwhile, banking stocks provided meaningful support and helped limit broader losses. Major contributors included United Bank, National Bank, Habib Bank, Askari Bank, and the Bank of Punjab. Additionally, select non-bank names, such as Pioneer Cement and Searle, attracted buying interest.
Looking ahead, analysts maintain a constructive outlook for the broader market. Supportive factors include the State Bank of Pakistan’s recent policy rate cut and partial progress in addressing the power-sector circular debt. Additionally, renewed U.S. investment commitments for the Reko Diq project are expected.
Overall market activity moderated during the session. Trading volume declined to 1.068 billion shares from 1.176 billion shares in the previous session. At the same time, the value of traded shares stood at Rs51.7 billion. A total of 483 companies’ shares were traded, with 178 closing higher, 255 declining, and 50 remaining unchanged. The Bank of Punjab led volumes, with 90.7 million shares traded, gaining Rs0.75 to close at Rs37.86.
