PSX extends modest gains on selective buying amid mixed sector performance
The index closed up 0.23% as oil‑and‑gas stocks lifted the market while refinery shares fell on reports of a lower diesel margin cap, leaving overall sentiment neutral.
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Desk Analysis
How This Affects the Exchange
Sector Effect
Neutral · Watch
Oil & Gas stocks rose while refinery shares fell, creating mixed effects for related sectors; watch the market.
Sectors & Direction
Desk read
Desk call: Watch · Neutral effect
- Oil & GasNeutral effect
Companies
Mentions in This Briefing
Sectors: Oil & Gas — Neutral · Watch. PSX tickers: OGDCL, CNERGY. Oil & Gas stocks rose while refinery shares fell, creating mixed effects for related sectors; watch the market.
Full Story
Open on Dawn## Market Overview
The Pakistan Stock Exchange (PSX) ended the week on a modest upswing, with the KSE‑100 index trading between 175,418.29 and 174,515.39 before settling at 175,329, a gain of 399.13 points (0.23%). Trading remained range‑bound as many investors stayed on the sidelines amid persistent inflationary pressures and geopolitical uncertainty.
## Sector Movers
- Oil & Gas: Meezan Bank, Bank Al‑Habib, Mari Energies, Pakistan Petroleum and Oil and Gas Development Company (OGDC) together added 250 points to the index. OGDC disclosed a 3.1‑fold year‑on‑year rise in 4QFY26 earnings to Rs 127.1 billion, with EPS of Rs 29.55, driven by higher oil prices, increased production and a Rs 44 billion reversal of the super‑tax. - Refinery: United Bank, Attock Refinery, Pakistan Services Ltd, Cnergyico PK and Fauji Fertiliser dragged the index down by 212 points. Reports that the government may cut the high‑speed diesel refining margin cap from $41.89 to $30 per barrel pressured refinery stocks, with Pakistan Refinery down 6%, Attock Refinery 3.43%, National Refinery 1.98% and Cnergyico PK 3.73%.
## Trading Activity
Total volume surged 39.34% to 874 million shares and turnover rose 28.71% to Rs 32.4 billion. Cnergyico PK led the volume chart with 149 million shares traded.
## Outlook
Analysts expect continued volatility through the earnings season, citing geopolitical developments and oil price movements as the primary market drivers. The mixed performance of oil‑related stocks suggests a balanced view for investors.
## Commentary
Deputy Head of Trading at Arif Habib Ltd, Ali Najib, noted that sentiment remained mixed ahead of the weekend, reflecting the tug‑of‑war between bullish oil‑and‑gas earnings and bearish refinery outlooks.