Following the worst single-day crash in its history, the Pakistan Stock Exchange (PSX) staged a resilient, albeit volatile, recovery on Friday, February 20, 2026. The benchmark KSE-100 Index gained 999 points (+0.58%), closing the week at 173,170 points.
The rebound signals a temporary stabilization as investors digested corporate earnings, despite the ongoing geopolitical “10-day ultimatum” issued by President Trump regarding Iran.
PPVC – Financial Results for the Quarter Ended December 31, 2025#PSX #Stock #News #PPVC #FinancialResults pic.twitter.com/GKwt4WWGjw
— Chase PSX Announcements (@ChasePSXNotices) February 20, 2026
Session Highlights & Volatility
The day was marked by extreme “swing” trading, with a massive 4,555-point intraday spread between the high and low.
- Intraday High: 174,148 (+1,978 points)
- Intraday Low: 169,593 (-2,577 points)
- Support Level: Analysts at Arif Habib Ltd noted that the 170,000 level acted as a critical psychological and technical floor, preventing a total freefall.
Corporate Earnings: The Catalyst for Stability
Strong financial results from the automotive and energy sectors provided the necessary “cushion” to offset geopolitical jitters.
| Company | Key Highlight | Market Impact |
| Indus Motor (INDU) | 23% YoY profit jump in 2QFY26 (Rs 5.98bn). Declared Rs 46/share dividend. | Boosted Auto Sector confidence. |
| OGDC & PPL | Recovery in oil prices and “circular debt” reform news. | Combined to add over 300 points. |
| K-Electric (KEL) | Led volume with 73.1 million shares traded. | High liquidity in power sector. |
Sectoral Performance
- Top Contributors: OGDC, MLCF, PPL, SYS, and FFC were the primary drivers, collectively adding 584 points to the index.
- Laggards: Financial and tech stocks like MCB, TRG, and BAFL faced continued selling pressure, shaving off 243 points.
- Overall Breadth: Trading volume surged to 533.6 million shares (up from 229m yesterday), with a total turnover of Rs 23.7 billion.
Analyst Outlook for Next Week
While the “Friday Bounce” is a positive sign, market experts warn that the KSE-100 remains in a “wait-and-see” mode.
- Resistance: The 180,000 level remains a stiff immediate resistance.
- External Risks: The index is highly sensitive to the March 2 deadline (Trump’s 10-day Iran ultimatum) and global oil price fluctuations.
- Local Triggers: Investors are closely watching the February 25 hospital transfer of Imran Khan and the potential for political protests, which could induce further volatility.
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