The KSE-100 Index extended its losing streak to five sessions on Friday, closing down over 900 points below 165,600 as cautious investors remained on the sidelines amid elevated oil prices and persistent geopolitical tensions.

The KSE-100 Index closed at 165,596 points, down 902 points (-0.54%), extending its weak and range-bound trend. Volumes stayed on the lower side at 264 million shares, reflecting cautious participation, with activity led by KEL (78mn), CNERGY (46mn), and BOP (36mn).

Market sentiment remained mixed to negative as selling pressure dominated key sectors, including banks, investment banks, fertilizers, and cement. Major stocks such as ENGROH, UBL, FFC, BAHL, and HBL closed lower, keeping the index under pressure with limited support from selective counters, according to Ahmed Sheraz of KASB KTrade.

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On the external front, Brent crude remained elevated in the $107–$109/bbl range, continuing to fuel inflation and external account concerns. Global sentiment also stayed cautious amid ongoing geopolitical uncertainty, particularly around US–China developments and Iran-related negotiations, with energy route risks like the Strait of Hormuz still in focus.

Overall, the market remained in a defensive consolidation phase, extending its losing streak over the past five sessions. Until there is clarity on geopolitics and oil direction, the index is expected to stay range-bound with a slight downside bias, and any rebounds are likely to remain selective and short-lived.