PSX Closing Bell: Down in the Valley

February 19, 2026 (MLN): Pakistan’s stock market witnessed a sharp and unsettling decline on Thursday, as the benchmark KSE-100 Index closed at 172,170.29, down 6,682.80 points or 3.74%, wiping out the gains from the previous session’s rebound.

The session was marked by intense volatility. The index moved within a wide band of 7,632 points, reaching an intraday high of 179,279.74 before sliding to a low of 171,647.33.

Trading activity remained heavy, with total volumes at 229.01 million shares, reflecting strong selling pressure.

Market sentiment weakened significantly amid rising geopolitical tensions between the United States and Iran, which unsettled global markets.

Adding to the anxiety, international oil prices surged more than 6% over the past two days, a troubling development for Pakistan as a net oil-importing country.

Higher oil prices typically translate into inflationary pressures, a wider trade deficit, and strain on foreign reserves, all of which dampen investor confidence.

According to Ali Najib, Deputy Head of Trading at Arif Habib Limited, the spike in crude prices has amplified macroeconomic concerns and further weakened already fragile market sentiment.

Overall, the session reflected a cautious and nervous market, with investors turning risk-averse amid external uncertainties and rising oil prices.

Of the 100 index companies 3 closed up, 93 closed down, 3 were unchanged, while 1 remained untraded.

Top losers during the day were SSOM (-10.00%), TRG (-9.42%), PAEL (-9.01%), PIBTL (-9.00%), and AGP (-8.55%).

On the other hand, top gainers were JDWS (+1.50%), INIL (+0.92%), FHAM (+0.36%), PKGP (+0.12%), and IBFL (+0.00%).

In terms of index-point contributions, companies that dragged the index lower were FFC (-539.19pts), ENGROH (-350.38pts), UBL (-346.70pts), OGDC (-302.20pts), and PPL (-297.68pts).

Meanwhile, companies that added points to the index were INIL (+3.36pts), FHAM (+0.38pts), PKGP (+0.08pts), PGLC (+0.00pts), and JDWS (+0.00pts).

Sector-wise, KSE-100 Index was let down by Commercial Banks (-1937.64pts), Oil & Gas Exploration Companies (-775.19pts), Cement (-737.59pts), Fertilizer (-734.01pts), and Inv. Banks / Inv. Cos. / Securities Cos. (-401.84pts).

While the index was supported by Modarabas (+0.38pts), Sugar & Allied Industries (+0.00pts), Woollen (+0.00pts), Synthetic & Rayon (+0.00pts), and Leasing Companies (+0.00pts).

In the broader market, the All-Share Index closed at 103,476.64 with a net loss of 3,859.22 points or 3.60%.

Total market volume was 542.98 million shares compared to 697.68m from the previous session while traded value was recorded at Rs27.36 billion showing a decrease of Rs22.63bn.

There were 306,499 trades reported in 482 companies with 31 closing up, 384 closing down, and 67 remaining unchanged.

To note, the KSE-100 has gained 46,543 points or 37.05% during the fiscal year, whereas it has decreased 1,884 points or 1.08% so far this calendar year.

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