KARACHI:

The Pakistan Stock Exchange (PSX) witnessed a major sell-off during Thursday’s session, with the benchmark KSE-100 index plunging by over 2,400 points to close at above 169,170 points.

The KSE100 closed at 169,173 points, registering a decline of 2,405 points (-1.40% DoD), as selling pressure dominated throughout the session. Early stability proved short-lived, with the market drifting lower as sentiment weakened amid persistent external uncertainties.

Activity remained moderate, with KSE-100 volumes recorded at 310 million shares, where YOUW led with 58m shares traded, followed by CNERGY (48m) and KEL (36m). The downturn was largely driven by renewed concerns over rising global oil prices and escalating geopolitical tensions between Iran and the United States.

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With Brent crude hovering in the $102–104 per barrel range and no clarity on potential negotiations or diplomatic engagement, investor confidence remained fragile, prompting a risk-off stance across the board, according to Ahmed Sheraz, KASB KTrade.

Heavyweight sectors bore the brunt of the decline, particularly commercial banks and oil & gas stocks. Key index laggards included FFC, UBL, MEBL, PPL, BAFL, MARI, ENGROH, and EFERT, all contributing significantly to the negative close as broad-based selling persisted in blue-chip names.

Looking ahead, near-term direction remains tied to external developments, especially movements in oil prices and any progress on geopolitical fronts. With Friday’s session approaching, typical end-of-week caution may keep sentiment subdued, while investors are likely to stay on the sidelines awaiting clearer signals over the weekend.