PSX Closing Bell: Bears Tighten Their Grip

April 03, 2026 (MLN): Stocks at the Pakistan Stock Exchange continued their downward trajectory on Friday, with the benchmark KSE-100 Index closing lower as investor sentiment remained under pressure due to global uncertainties and a sharp increase in domestic fuel prices.

The KSE-100 Index settled at 150,398.71, registering a decline of 1,612.55 points or 1.06%. The index traded in a wide range of 3,307.08 points, hitting an intraday high of 152,103.62 (+92.36 points) and a low of 148,796.54 (-3,214.72 points), reflecting heightened volatility throughout the session.

Total volume in the KSE-100 Index stood at 270.15 million shares. Of the 100 index companies, 18 closed higher, 80 declined, and 2 remained unchanged, indicating that bearish sentiment persisted despite some recovery attempts during the day.

Among the major losers, HCAR (-5.67%), SSOM (-5.43%), AIRLINK (-4.28%), KOHC (-4.19%), and UBL (-4.07%) recorded notable declines. On the other hand, gains were seen in CNERGY (+8.60%), ATRL (+5.91%), SSGC (+5.58%), POWER (+2.73%), and POL (+1.96%).

In terms of index-point contribution, the decline was led by UBL (-417.49 points), ENGROH (-306.25 points), FFC (-148.48 points), SYS (-116.93 points), and LUCK (-114.49 points). Meanwhile, support came from MEBL (+91.74 points), ATRL (+70.73 points), POL (+55.07 points), BAHL (+53.74 points), and BAFL (+49.03 points).

Sector-wise, the index was weighed down by Investment Banks/Companies/Securities Companies (-320.30 points), Commercial Banks (-314.16 points), Cement (-270.63 points), Fertilizer (-219.01 points), and Technology & Communication (-173.53 points). On the upside, Refinery (+98.58 points) and Oil & Gas Marketing Companies (+28.32 points) provided some support, along with marginal contributions from modarabas, leasing companies, and insurance.

Investor sentiment remained fragile following continued global uncertainty. Oil prices stayed elevated after Donald Trump warned of potential military escalation against Iran earlier this week, keeping global energy markets volatile and sustaining a risk-off environment across equities.

At the domestic level, sentiment was further dented after the government announced a massive increase in petroleum prices. Petrol prices were raised by Rs137 per litre to Rs458.40, while high-speed diesel surged by Rs184 per litre to Rs520.35, sparking concerns over inflation, higher input costs, and pressure on corporate profitability.

The combined impact of rising global oil prices and the sharp hike in local fuel costs weighed heavily on investor confidence, particularly in energy-intensive and cyclical sectors.

In the broader market, the All-Share Index closed at 90,084.08, down 849.88 points or 0.93%. Total market volume increased to 471.94 million shares, while traded value rose to Rs24.64 billion, indicating higher activity despite the negative trend.

A total of 483 companies were traded during the session, of which 132 advanced, 279 declined, and 72 remained unchanged, reflecting a continued bearish bias at the close of the week.

To note, the KSE-100 has gained 24,771 points or 19.72% during the fiscal year, whereas it has decreased 23,656 points or 13.59% so far this calendar year.

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