The Pakistan Stock Exchange ended a four-session climb on Friday as investors sold shares after a sharp rise in global oil prices. According to Topline Securities Ltd, the index closed at 166,409 points, down 784.19 points, or 0.47%, after spending most of the session in the red.
Why shares sold off
Early in the week, buyers had still been hunting value despite high oil prices, regional risks and wider economic pressure. That mood faded on the week’s last trading day. Rising crude prices, worries about sharper US–Iran tensions after the US midterm elections, and reported attacks on tankers in the Strait of Hormuz—the narrow waterway that carries a large share of world oil shipments—pushed sentiment lower. Many investors also locked in gains after a rally that had been fuelled by September-quarter company results.
Ali Najib, deputy head of trading at Arif Habib Ltd, said the session was negative. The index touched an intraday high of 167,339 and a low of 166,535, then finished near that low after early gains failed to hold. He described the market as volatile following the four-session recovery of 4,800 points, with caution growing in the second half as Brent crude moved above $116 a barrel. Fresh attacks in the Strait of Hormuz and Houthi strikes on Saudi refineries deepened fears of energy supply disruption and pressure on Pakistan’s external account—the balance of money flowing in and out of the country.
Stocks that dragged and those that held up
The heaviest drag came from United Bank, Lucky Cement, Habib Bank, Fatima Fertiliser and Attock Refinery, which together weighed the index down by 359 points. Support came from Engro Fertiliser, Pakistan Oilfield, Meezan Bank, Engro Holdings and Oil and Gas Development Company (OGDC), which together added 177 points.
Trading volume edged up 1.05% to 825.46 million shares, but the value of shares traded plunged 26.69% to Rs23.12 billion, pointing to thinner conviction even as more shares changed hands.
Energy prices and the inflation backdrop
On the policy side, the Finance Division projected October inflation at 9.5% to 10.5% amid elevated energy prices. Diesel crossed the Rs400 mark to Rs400.67 a litre, while petrol stood at Rs377.91 a litre. Those levels help explain why oil-linked headlines moved equity investors so quickly: costlier fuel feeds into transport, industry and the inflation outlook that households already feel in monthly budgets.
Aasan alfaaz mein
Jumme ko Pakistan Stock Exchange gir gaya aur char din ki charhai khatam ho gayi. Index lagbhag 784 points ghat kar 166,409 par band hua. Mahnga tel aur Hormuz ke khatre ne investors ko bechain kiya. Petrol aur diesel pehle se mehengay hain, is liye mehngai ka dabaao aam logon par barh sakta hai.
