KARACHI:
The Pakistan Stock Exchange (PSX) fell below the 164,000-point mark on Thursday, as escalating geopolitical tensions in the Middle East and a surge in international oil prices rattled investor sentiment, raising concerns over Pakistan’s energy import bill and external account.
PSX witnessed a negative trading session, with the benchmark KSE-100 Index declining 2,007 points (-1.21% DoD) to close at 163,924.32. During the session, international oil prices surged amid heightened geopolitical tensions following fresh Houthi attacks in Saudi Arabia.
The developments heightened concerns over a broader regional conflict and prolonged disruptions to Middle Eastern energy supplies, weighing on investor sentiment amid fears of a higher energy import bill and mounting pressure on the country’s external account, said Ali Najib, Deputy Head of Trading at Arif Habib Ltd.
On the corporate front, key banks announced their 9MCY26 results, with HBL, MEBL and MCB reporting EPS of Rs36.84 (+5% YoY), Rs41.02 (+6% YoY) and Rs37.26 (flat YoY), respectively. Earnings and dividend payouts were in line with AHL expectations.
On the index contribution front, ENGROH, UBL, HUBC, HBL, PTC, LUCK, FFC, ATRL, NBP and PPL were the major laggards, collectively dragging the index down by 1,151 points.
Market activity improved, with 364.3 million shares traded and total turnover reaching Rs17.9 billion. PRL led volumes, with 25.8 million shares changing hands.
Going forward, the market may remain volatile amid geopolitical tensions and elevated oil prices. However, resilient ongoing corporate results like today’s banking sector earnings and attractive payouts may provide selective support. Investors will likely track developments in the Middle East and their potential implications at PSX.
