KARACHI:

The Pakistan Stock Exchange (PSX) Index extended its losing streak on Thursday, closing below 181,300 points, down around 370 points. 

The KSE-100 Index extended its losing streak, closing at 181,259 points, down 369 points (-0.20% DoD). The session remained largely range-bound as investors adopted a cautious stance following the previous day’s sharp correction, said Ahmed Sheraz of KASB KTrade.

Sector-wise performance was mixed, with selling pressure in commercial banks and oil & gas stocks weighing on the benchmark, while automobiles and refinery stocks provided partial support.

Market activity remained healthy despite the subdued performance, with 471 million shares traded in the KSE-100 Index. Volume leaders were CNERGY (212 million shares), KEL (37 million shares), and BOP (25 million shares), highlighting continued investor interest in high-volume names.

Read: PSX dives 4600 points over ME tensions

On the stock-specific front, MEBL, MCB, PPL, and ENGROH emerged as the major drags on the index. Conversely, GHNI, FATIMA, UBL, CNERGY, and GAL lent support to the benchmark, resulting in a mixed market performance with gains in select sectors offsetting weakness in heavyweight stocks.

Looking ahead, market direction will remain closely tied to developments in the Middle East, particularly around the Strait of Hormuz and their impact on global oil prices. While geopolitical uncertainty is likely to keep volatility elevated in the near term, any signs of de-escalation could improve investor sentiment and pave the way for a market rebound.