PSX Closing Bell: A Rough Ride for Bulls

March 27, 2026 (MLN): The Pakistan Stock Exchange (PSX) witnessed another volatile session on Friday, with the benchmark KSE-100 Index extending its losses amid cautious investor sentiment driven by security concerns and lingering geopolitical uncertainty.

The KSE-100 Index closed at 151,707.51, registering a decline of 1,200.45 points or 0.79%.

The index traded within a range of 2,202.94 points, hitting an intraday high of 153,660.88 (+752.92) and a low of 151,457.94 (-1,450.02), reflecting continued market instability. Total volume for the index stood at 244.73 million shares.

Market breadth remained negative, with 79 stocks closing lower, 20 advancing, and 1 remaining unchanged.

Among the top losers were HCAR (-4.99%), SSGC (-4.75%), GAL (-4.20%), PIOC (-3.74%), and NBP (-3.60%). On the gaining side, PGLC (+8.18%), PKGP (+3.35%), LOTCHEM (+2.64%), GADT (+2.02%), and SYS (+1.96%) posted gains.

In terms of index-point impact, major drags included OGDC (-189.15pts), PPL (-142.99pts), NBP (-110.67pts), UBL (-94.52pts), and MARI (-76.28pts). Meanwhile, SYS (+81.90pts), MEBL (+67.62pts), FATIMA (+25.61pts), BAFL (+20.05pts), and SRVI (+19.77pts) provided some support.

Sector-wise, the index was weighed down by Oil & Gas Exploration Companies (-426.60pts), Commercial Banks (-271.77pts), Cement (-185.28pts), Oil & Gas Marketing Companies (-83.13pts), and Pharmaceuticals (-65.16pts). On the other hand, Technology & Communication (+58.99pts) and select smaller sectors offered limited support.

In the broader market, the All-Share Index settled at 90,950.94, down 834.89 points or 0.91%.

Overall market activity declined, with total volume recorded at 435.51 million shares, compared to 521.63 million in the previous session, while traded value decreased to Rs23.99 billion, down Rs3.15 billion. A total of 290,572 trades were executed across 478 companies, with 126 closing higher, 287 declining, and 65 remaining unchanged.

The volatile session was largely attributed to heightened investor caution following developments surrounding the Reko Diq project, where Barrick Mining decided to slow down development activities amid worsening security conditions and regional instability.

The move comes after a surge in separatist violence in Balochistan, where the project is located, prompting the company to reassess risks and extend its internal review period by 12 months starting July. The project, one of Pakistan’s most significant mining ventures, has already seen $849 million in investment, and any delay is expected to impact timelines and investor confidence.

Additionally, broader geopolitical tensions in the Middle East continued to weigh on sentiment, further amplifying market uncertainty.

However, some support emerged as global oil prices edged lower, following signs of limited easing in tensions around the Strait of Hormuz. Sentiment improved slightly after U.S President  Donald Trump indicated that Iran had allowed oil tankers to pass through the critical route, easing immediate supply concerns.

Despite the dip in oil prices, the combination of domestic security concerns and external geopolitical risks kept investors on edge, resulting in another weak close for the benchmark index.

To note, the KSE-100 has gained 26,080 points or 20.76% during the fiscal year, whereas it has decreased 22,347 points or 12.84% so far this calendar year.

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