PSX opens lower as selling pressure hits banks, oil & gas and power stocks
The KSE‑100 index slipped more than 300 points in early trade, with commercial banks, oil‑and‑gas explorers, OMCs, power generators and refineries leading the decline.
Share
Desk Analysis
How This Affects the Exchange
Sector Effect
Negative · Do not buy
Banks, Oil & Gas, Power sectors are falling; avoid buying HUBCO, POL, PPL, NBP, UBL.
Sectors & Direction
Desk read
Desk call: Do not buy · Negatively affected
- BanksNegatively affected
- Oil & GasNegatively affected
- PowerNegatively affected
Companies
Mentions in This Briefing
Sectors: Banks, Oil & Gas, Power — Negative · Do not buy. PSX tickers: HUBC, POL, PPL, NBP, UBL. Banks, Oil & Gas, Power sectors are falling; avoid buying HUBCO, POL, PPL, NBP, UBL.
Full Story
Open on Business Recorder## Market Overview
The Pakistan Stock Exchange opened on a downbeat note on Friday, with the benchmark KSE‑100 Index falling 302.22 points (‑0.17%) to 174,627.46 by 10:30 am. Selling pressure was evident across several heavyweight sectors.
## Sectoral Impact
Key losers included: - Commercial banks – major lenders saw their shares trade in the red. - Oil & Gas exploration – explorers and OMCs faced downward pressure. - Power generation and refineries – utilities and refiners also declined.
Index‑heavy stocks such as HUBCO, Pakistan Oilfields Limited (POL), Pakistan Petroleum Limited (PPL), National Bank of Pakistan (NBP) and United Bank Limited (UBL) were among the most affected, all closing lower.
## Recent Context
The previous session (Thursday) was marked by high volatility as rising international oil prices, driven by ongoing geopolitical tensions, kept investors cautious. Despite a modest intraday recovery that saw the KSE‑100 close up 153.09 points (0.09%) at 174,929.69, the market could not sustain the gains.
## Global Influences
Asian equity markets rose on Friday after a Federal Reserve official signaled a possible pause in U.S. rate hikes, easing bond market stress and weakening the dollar. However, the global rally was insufficient to offset the local sell‑off, which was amplified by concerns over oil price volatility and regional geopolitical risk.
## Outlook
With banks, oil‑and‑gas and power stocks under pressure, market sentiment remains cautious. Investors are likely to monitor further developments in oil prices and any policy cues from the Federal Reserve before taking new positions.