Equities turn flat after early rally

KARACHI: After a mid-week holiday on account of Eid Miladun Nabi, the Pakistan Stock Exchange (PSX) recorded a jittery session on Thursday. Despite opening higher, the benchmark KSE 100 index came

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Listen to article 1x 1.2x 1.5x [ comments ](#comments) Join our Whatsapp Channel Add Dawn as a trusted source KARACHI: After a mid-week holiday on account of Eid Miladun Nabi, the Pakistan Stock Exchange (PSX) recorded a jittery session on Thursday. Despite opening higher, the benchmark KSE 100 index came under late selling pressure, closing flat amid persistent geopolitical and political concerns.

Topline Securities Ltd said the index opened on a strong footing, surging to an intraday high of 1,279 points at 178,650.02, amid falling oil prices and renewed hopes of a potential peace deal between the US and Iran, which lifted investor sentiment. However, the early optimism proved short-lived as investors took profits after the release of corporate results, trimming the index’s gains.

The index touched an intraday low of 174 points at 177,196.29 before settling at 177,322, down 47 points, or 0.03 per cent.

Hub Power, Engro Holdings, Pakistan Oilfields, United Bank, and Fauji Fertiliser were among the key contributors, collectively adding approximately 493 points to the index. Conversely, National Bank, Pakistan Petroleum, and Pakistan State Oil emerged as major laggards, shaving approximately 470 points from the benchmark.

Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said PSX recorded a period of consolidation. However, as the session progressed, a few traders opted for profit-taking, erasing earlier gains and leaving the market with a marginally negative close.

On the corporate front, Attock Petroleum repor­ted FY26 earnings of Rs17.0bn, earnings per share of Rs136.31, up 63pc year-on-year, while 4QFY26 earnings declined 19pc year-on-year to Rs2.2bn. The company announced a final dividend of Rs40 per share, taking the FY26 pay­­out to 44pc, up from 30.5pc in the same period last year.

Pakistan Oilfield rep­o­rted 4QFY26 profit after tax (PAT) of Rs12.4bn (EPS: Rs43.69), up 67pc year on year, while FY26 PAT rose 32pc year on year to Rs31.9bn. The company announced a record ann­ual dividend of Rs100 per share.

Meanwhile, Hub Power reported 4QFY26 PAT of Rs16.5bn (EPS: Rs12.77), up 39pc year-on-year and 53pc quarter-on-quarter, and announced a quarterly dividend of Rs5 per share.

Investor participation weakened, with trading volume reaching 611.6m shares and total turnover of Rs34.5bn.

Analysts predict that short-term trading will stay range-bound and volatile, with 175,000 serving as the initial key support level.