Stocks rise amid record OGDC earnings

Arif Habib Limited reported that Oil and Gas Development Company posted fourth-quarter FY26 earnings of Rs127.1 billion, with earnings per share rising to Rs29.55 from Rs9.37 a year earlier. The 3.1 times year-on-year jump was attributed to higher oil prices, greater hydrocarbon output and the reversal of a super-tax provision worth Rs44 billion. The company also announced a record FY26 dividend of Rs17 per share.

The Express Tribune reported that the KSE-100 closed Friday's session 0.23 per cent higher at 175,328.82, cutting its week-on-week decline to 1.33 per cent in a range-bound market. Advancing stocks outnumbered decliners 60 to 38, with Meezan Bank, Bank AL Habib and Mari Energies among the largest positive contributors. Separately, the federal government is reportedly considering lowering the high-speed diesel refining margin ceiling from $41.89 to $30 per barrel, a change that would reduce refinery profitability.

OGDC also ranked among the most actively traded stocks, with Rs2.82 billion in traded value, while total volume rose to 874 million shares from 627 million in the previous session. Foreign investors sold shares worth Rs198 million, the National Clearing Company reported. Of the 496 companies traded, 235 closed higher, 218 fell and 43 finished unchanged.