The Pakistan Stock Exchange (PSX) ended Friday's trading session in negative territory, with the benchmark KSE-100 Index declining 346.57 points as profit-taking in heavyweight banking, fertilizer, and investment company stocks outweighed gains in selected energy and refinery shares.

Investor sentiment remained cautious after international oil prices moved higher following Iran's release of a draft proposal outlining new restrictions for vessels transiting the Strait of Hormuz. The development revived concerns over potential disruptions to global energy supplies, adding to geopolitical uncertainty and prompting investors to adopt a more defensive approach.

The benchmark KSE-100 Index settled at 181,430.02, down 346.57 points, or 0.19%, from the previous close. The index traded within a range of 1,027.19 points, touching an intraday high of 181,647.27 (-129.32 points) and an intraday low of 180,620.08 (-1,156.51 points).

Trading activity remained robust, with 376.06 million shares exchanged among KSE-100 constituents. Market breadth was negative, with 34 companies advancing, 65 declining, and one stock remaining unchanged.

Among the day's biggest decliners, Gadoon Textile Mills Limited (GADT) fell 5.81%, followed by IBL Finance Limited (IBFL) (-4.38%), Pakistan General Insurance Company Limited (PGLC) (-2.62%), First Habib Modaraba (FHAM) (-2.20%), and Yousuf Weaving Mills Limited (YOUW) (-1.65%).

On the positive side, Cnergyico PK Limited (CNERGY) emerged as the top gainer, rising 6.13%. Other notable gainers included Ghani Glass Limited (GHGL) (+4.78%), Power Cement Limited (POWER) (+2.18%), TRG Pakistan Limited (TRG) (+1.48%), and Bannu Woollen Mills Limited (BNWM) (+1.40%).

In terms of index-point contribution, Engro Holdings Limited (ENGROH) exerted the largest negative impact on the benchmark, dragging it down by 131.63 points. Other major drags included United Bank Limited (UBL) (-70.66 points), MCB Bank Limited (MCB) (-49.94 points), Engro Fertilizers Limited (EFERT) (-48.86 points), and Fatima Fertilizer Company Limited (FATIMA) (-29.72 points).

Meanwhile, Hub Power Company Limited (HUBC) provided the strongest support by contributing 70.55 points to the benchmark. Additional positive contributions came from Mari Energies Limited (MARI) (+37.28 points), Cnergyico PK Limited (CNERGY) (+33.36 points), Ghani Glass Limited (GHGL) (+23.65 points), and Bank of Punjab (BOP) (+22.38 points).

Sector-wise, Commercial Banks remained the biggest drag on the benchmark, reducing the index by 182.37 points. Additional pressure came from Investment Banks, Investment Companies & Securities Companies (-125.54 points), Fertilizer (-88.33 points), Pharmaceuticals (-28.50 points), and Oil & Gas Marketing Companies (-17.64 points).

On the other hand, the market found support from Power Generation & Distribution, which added 63.47 points to the benchmark. Gains also came from the Refinery sector (+46.74 points), Oil & Gas Exploration Companies (+26.27 points), Glass & Ceramics (+19.60 points), and Food & Personal Care Products (+11.85 points).

In the broader market, the PSX All-Share Index closed at 109,168.66, down 139.83 points, or 0.13%.

Overall market activity moderated, with 716.04 million shares traded compared with 793.35 million shares in the previous session. The total traded value declined by Rs6.21 billion to Rs34.10 billion, reflecting slightly lower investor participation.

A total of 392,783 trades were executed across 491 listed companies, with 206 stocks closing higher, 260 declining, and 25 remaining unchanged.

Among the most actively traded stocks, Cnergyico PK Limited (CNERGY) dominated the volume chart with 161.18 million shares, followed by Bank of Punjab (BOP) (52.33 million shares), WASL (24.22 million shares), PACE Pakistan Limited (PACE) (20.06 million shares), and National Cement Company Pakistan Limited (NCPL) (18.25 million shares).

Despite Friday's decline, the KSE-100 Index remains up 1,128 points (0.63%) during the current fiscal year. On a calendar-year basis, the benchmark has gained 7,376 points (4.24%), reflecting continued resilience despite short-term profit-taking and geopolitical uncertainty.