The Pakistan Stock Exchange (PSX) remained largely flat on Thursday after an early rally faded as investors opted for profit-taking following the release of corporate earnings.
Topline Securities Ltd said the benchmark index opened on a positive note and climbed 1,279 points to an intraday high of 178,650.02, supported by falling oil prices and renewed hopes of a possible peace agreement between the United States and Iran.
However, the initial gains were short-lived as investors booked profits, particularly after corporate results were announced. The index later touched an intraday low of 177,196.29 before closing at 177,322 points, down 47 points, or 0.03 per cent.
Hub Power, Engro Holdings, Pakistan Oilfields, United Bank and Fauji Fertiliser were among the major contributors, collectively adding around 493 points to the index. On the other hand, National Bank, Pakistan Petroleum and Pakistan State Oil were the biggest drags, taking approximately 470 points off the benchmark.
Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said the market remained in a consolidation phase, with profit-taking by some investors later in the session wiping out the early gains and pushing the index marginally into negative territory.
On the corporate front, Attock Petroleum posted FY26 earnings of Rs17bn, with earnings per share (EPS) rising 63pc year-on-year to Rs136.31. However, fourth-quarter earnings fell 19pc year-on-year to Rs2.2bn. The company announced a final cash dividend of Rs40 per share, taking its full-year payout to 44pc, compared with 30.5pc a year earlier.
Pakistan Oilfields reported a 67pc year-on-year increase in fourth-quarter FY26 profit after tax (PAT) to Rs12.4bn, translating into an EPS of Rs43.69. Full-year PAT rose 32pc to Rs31.9bn. The company announced a record annual dividend of Rs100 per share.
Meanwhile, Hub Power posted fourth-quarter FY26 PAT of Rs16.5bn, up 39pc year-on-year and 53pc quarter-on-quarter, with an EPS of Rs12.77. The company also declared a quarterly dividend of Rs5 per share.
Investor participation weakened during the session, with trading volume reaching 611.6 million shares and total turnover standing at Rs34.5bn.
Analysts expect the market to remain range-bound and volatile in the short term, with the 175,000-point level emerging as the first key support.
