PSX loses ground in range-bound session as the benchmark KSE-100 index closed down over 300 points on Friday. Despite hitting an intra-day high of +544 points, the index reversed direction, touching a low of -421 points, eventually settling at 119,649.14 with a loss of 312.77 points (-0.26%). This decline reflects investor hesitation following record-breaking rallies earlier in the week.

PSX loses ground: Muted Sentiment as Investors Wait for New Triggers

PSX loses ground in range-bound session due to investor uncertainty ahead of the weekend. The lack of fresh catalysts led to a cautious approach from market participants. While Engro Holdings, Systems Limited, Bank AL Habib, UBL, and Bank Alfalah contributed 271 positive points, their gains were offset by losses in Fauji Fertiliser Company (FFC), Lucky Cement, Mari Petroleum, OGDC, PSO, and Engro Fertilisers, which dragged the index by 476 points.

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PSX loses ground: Macroeconomic Indicators Add to Bearish Pressure

The range-bound session amid weak macroeconomic indicators. A 25% month-on-month drop in Roshan Digital Account (RDA) inflows to $177 million, and a sharp decline in the current account surplus to just $12 million in April, dented investor confidence. Speculations around IMF-led tax reforms in the upcoming FY26 federal budget further pressured the market.

PSX loses ground:Oil Prices and Energy Policy Changes Influence Mood

PSX loses ground in range-bound session with global crude oil prices trending lower. Market experts pointed to uncertainty over proposed changes in industrial base tariffs and the Senate’s recent approval of a higher grid levy under the CPP Levy Bill 2025. Government announcements regarding savings from Independent Power Producers’ revised contracts also affected investor sentiment.

Engineering Sector Gains as Custom Duties May Drop

PSX loses ground in range-bound session overall, but the engineering sector saw late-session interest. The Prime Minister’s directive to gradually eliminate additional and regulatory customs duties over the next four to five years, with a proposed cap of 15% on all duties, gave this import-heavy sector a boost.

Trading Volume and Market Breadth

PSX range-bound session, recording a trading volume of 572.3 million shares, down from 699 million in the previous session. The value of shares traded stood at Rs29.03 billion. Out of 465 companies traded, 206 closed higher, 209 fell, and 50 remained unchanged. At-Tahur Ltd led volume charts with 44.6 million shares traded.

Foreign Investors and Key Index Movers

PSX loses in range-bound session as foreign investors sold equities worth Rs165 million. Key gainers included Engro Holdings (+0.96%), UBL (+0.65%), and Bank AL Habib (+1.01%). Meanwhile, FFC (-1.47%), Lucky Cement (-1.47%), and Mari Petroleum (-1.36%) were top laggards.

Conclusion: Uncertainty Weighs on Market

PSX loses ground in range-bound session, reflecting an overall lack of investor enthusiasm amid economic concerns and looming policy changes. Despite a strong weekly performance, Friday’s drop highlights growing caution in the market.

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