“During the session, investors opted for profit realisation after the recent robust gains,” said Ali Najib, Deputy Head of Trading at Arif Habib Ltd (AHL). “Following a sharp rally of 12,464 points (+7.2%) in the initial five sessions of CY26, the PSX witnessed its first profit-taking session today (Thursday).”
The KSE-100 index ended the session on a weaker note, losing 975.70 points, or 0.52%, to settle at 185,543.01, as selling pressure prevailed across key sectors.
AHL noted that the KSE-100 took a much-needed breather on Thursday, closing just above key support levels. Market activity showed a near-balanced performance with 53 shares declining and 46 advancing. Major gains came from Adamjee Insurance (+10%), NBP (+1.99%) and Pak Elektron (+6.71%), while Engro Holdings (-3.61%), UBL (-1.67%) and Meezan Bank (-2.68%) weighed on the index.
Among corporate and macro developments, Pakistan and Saudi Arabia were reportedly in talks to convert around $2 billion of Saudi loans into a fighter jet deal, specifically for JF-17 Thunder jets, with the total package valued at $4 billion, including an additional $2 billion for equipment.
On the economic front, the government plans to deregulate the sugar sector as part of structural reforms agreed with the IMF. Analysts anticipate some short-term weakness towards the 184,000-185,000 support zone before an upside continuation, noting that a multi-day pause in the market could be a healthy consolidation.
Topline’s market review noted that after five consecutive sessions of strong upside, the local bourse witnessed a measured round of profit-taking, as investors opted to book gains at elevated levels. Despite the selling pressure, the underlying sentiment remained constructive, with the benchmark index opening on a firm footing and surging to the intra-day high of 1,386 points.
However, the momentum tapered off in the latter half of the session, with profit-taking dragging the index to the intra-day low of 1,319 points. The market closed at 185,543, down 976 points (-0.52%). The pullback appeared largely technical in nature, suggesting consolidation rather than a shift in the broader bullish trend.
On the positive side, Adamjee Insurance, NBP, Pak Elektron, FFC and Mari Energies collectively added 384 points to the index. These gains, however, were outweighed by the decline in Engro Holdings, UBL, Meezan Bank, Systems Ltd and Pakistan Petroleum, which together erased 986 points.
Nawaz Ali of JS Global noted that after nine consecutive bullish sessions, the market succumbed to profit-taking at elevated levels, leading the KSE-100 index to close down 976 points. The session was marked by heightened volatility, with the index touching the intra-day high of 187,905 and low of 185,199.
“Looking ahead, we recommend investors to maintain a ‘buy-on-dips’ strategy, particularly focusing on the oil & gas and banking sectors, along with selective exposure to telecom stocks,” he said.
Overall trading activity remained healthy, with total market volume clocking in at 1.43 billion shares, higher than the previous session’s 1.33 billion. The value of shares traded during the day stood at Rs91.34 billion.
Shares of 481 companies were traded on the ready market, of which 209 stocks closed higher, 245 declined and 27 remained unchanged.
Among volume leaders, Agha Steel Industries topped the list with turnover of 131.9 million shares, gaining Rs0.83 to close at Rs9.44. It was followed by Pak Elektron, which saw trading in 76.3 million shares, rising Rs3.96 to close at Rs62.95. Hascol Petroleum ranked third, with 59.9 million shares changing hands, up Rs1.83 to close at Rs20.15.
Foreign investors sold shares worth Rs1.04 billion, the National Clearing Company reported.