What happened
The benchmark KSE-100 index of the Pakistan Stock Exchange closed at 179,603.73 on Friday 13 February 2026, down 908.91 points, or about 0.50 percent, from the previous day’s close. It slipped below the 180,000 level for the first time since 2 January, according to Mettis Global, which described the move as a significant technical setback.
The session extended a two-day correction. Trading was volatile, with the index dipping intraday to around 178,237 before a partial recovery in late trading. Over the two sessions the index lost more than 3,400 points.
Why it matters
The fall followed a strong run earlier in 2026. The index had crossed 180,000 on 5 January and stayed above that threshold for more than a month, peaking near 191,000 in January. Analysts cited by The Express Tribune attributed the selling to profit-taking after that run-up, concerns about overvaluation in some counters and the possibility of retail outflows if the correction deepened.
A weekly review by Mettis Global said the KSE-100 ended the week down 4,525.85 points, or 2.46 percent, at 179,603.73 compared with 184,129.58 on 6 February. Fertiliser stocks took 371.69 points off the index, power generation and distribution 306.34 points, and cement 280.04 points, it said.
The selling
The decline was broad-based. Heavy offloading was reported in banking, fertiliser, energy — including oil and gas exploration and marketing companies — cement and power generation. The Express Tribune reported that major blue chips including Pakistan Petroleum, Engro Fertilisers, Hub Power, Oil and Gas Development Company, MCB Bank, National Bank and Bank Alfalah remained under pressure.
Topline Securities, cited by the newspaper, said corporate earnings that fell short of expectations kept sentiment weak. It named LUCK, UBL, OGDC, SYS, EFERT and ENGROH as the largest negative contributors, together weighing down the index by about 685 points.
The previous session’s decline was triggered in part by Engro Fertilisers’ fourth-quarter results. The company reported earnings per share of Rs6.26 and a dividend of Rs4 per share, both below market expectations, citing a one-off taxation impact and product discounts offered to maintain market share.
What is still uncertain
Market participants also pointed to a possible government levy on fertiliser producers to recover windfall profits, first reported around the 13 February session, although no official announcement had been made. Analysts quoted by The Express Tribune said the near-term tone remained fragile and advised investors to stay selective, warning that a failure to recover the 180,000 level could expose the index to further downside.
Sources & reporting notes
This article summarises published reporting, not eyewitness coverage. Sources were reviewed on 13 February 2026.
- UrduPoint / APP — "PSX Sheds 908 Points To Close At 179,603 Points"13 February 2026 · Confirms the closing level and point change for the Friday session.
- Mettis Global — "Weekly Market Roundup"13 February 2026 · Gives the weekly decline, the break below 180,000 and the sector point contributions.
- The Express Tribune — "PSX tumbles over 900 points"13 February 2026 · Reports the intraday move, the two-day loss and analyst commentary on the sell-off.
