The index largely traded in the red as heavyweights, including Mari Petroleum (MARI), United Bank Limited (UBL), Habib Bank Limited (HBL), Pakistan Oilfields (POL), and Engro Holdings (ENGROH), collectively dragged the index down by 681 points. Traded value and volume for the day stood at Rs36.99 billion (approximately $131 million) and 1.98 billion shares, respectively.
Brokerage houses expect the State Bank of Pakistan (SBP) to keep the policy rate unchanged at 11% in its October 27 meeting amid rising inflation, a marginally wider current account deficit, and early signs of domestic recovery.
At the close of trading, the benchmark KSE-100 index posted a decline of 638.50 points, or 0.39%, and settled at 163,806.22.
Arif Habib Limited (AHL), in its report, commented that the KSE-100 gained 0.43% week-on-week and held the key 163k level.
On Friday, 33 shares rose while 65 fell with Systems Limited (+2.34%), Lucky Cement (+1.17%) and The Bank of Punjab (+3.02%) contributing the most to index gains. On the flip side, Mari Petroleum (-1.49%), UBL (-0.68%) and HBL (-1.27%) were the biggest drags, it said.
During the day, Maple Leaf Cement (-1.54%) reported 1QFY26 earnings per share (EPS) of Rs2.6, up 103% year-on-year (YoY), which came in line with expectations.
In major news, AHL mentioned, Prime Minister Shehbaz Sharif said that it was up to Afghanistan to move forward with “sincere” steps after requesting ceasefire, which Pakistan accepted on Wednesday. Qatar was playing its role to resolve the issue between Pakistan and Afghanistan.
“We expect the SBP to keep the policy rate unchanged at 11% in the October 27 meeting, mainly due to the recent rise in inflation, a marginal widening of current account deficit and the domestic recovery in early stage,” it said. “For the coming week, developments with Afghanistan will be a key factor for market direction. Declines will need to hold 161-163k levels to indicate upside continuation while a close below will elevate downside risks.”
Topline Securities wrote that the KSE 100 index largely traded in the negative zone on account of continued profit-taking by investors, as the index declined to close at 163,806 (down by 0.39%).
The top negative contribution to the index came from MARI, UBL, HBL, POL and ENGROH as they erased 681 points. Traded value-wise, The Bank of Punjab (Rs2.98 billion), K-Electric (Rs1.95 billion), OGDC (Rs1.68 billion), PSO (Rs1.07 billion) and DG Khan Cement (Rs1.04 billion) dominated the trading activity.
Maple Leaf Cement declared its 1QFY26 results, where it posted consolidated EPS of Rs2.6/share (up 2x YoY while down 25% QoQ), Topline added.
Overall trading volumes decreased to 1.98 billion shares compared with 3.08 billion in the previous session. The value of shares traded stood at Rs36.99 billion.
Shares of 483 companies were traded, of which 166 closed higher, 277 declined and 40 remained unchanged.
WorldCall Telecom led the volumes with trading in 891.4 million shares, gaining Rs0.14 to close at Rs2.23. It was followed by K-Electric, which saw trading in 262.7 million shares, down Rs0.32 to close at Rs7.38 and The Bank of Punjab, which recorded volumes of 84.2 million shares, gaining Rs1.05 to close at Rs35.83.
Foreign investors sold shares worth Rs535.5 million, the National Clearing Company reported.