KARACHI: Pakistan Stock Exchange (PSX) extended its losing streak on Thursday as escalating geopolitical tensions between the United States and Iran, coupled with a surge in global oil prices and disappointing earnings expectations, triggered broad-based selling.
The KSE-100 Index declined by 2,829.70 points, or 1.71 percent, to close at 162,994.17 points after trading within an intraday range of 164,357.47 points (high) and 160,391.19 points (low), reflecting persistent pressure throughout the session .
The decline was also reflected in Business Recorder indices, where BRIndex100 closed at 17,794.03, down 417.82 points or 2.29 percent on a total volume of 623.225 million shares. BRIndex30 fell sharply by 2,256.03 points or 3.49 percent to close at 62,311.84 with a turnover of 417.663 million shares.
According to Topline Securities, the market remained under pressure due to the ongoing standoff between the US and Iran, where continued naval blockade of Iranian ports and deadlock over the Strait of Hormuz pushed crude oil prices higher, dampening investor sentiment.
The brokerage house noted that key index-heavy stocks including UBL, PPL, FFC, NBP, ENGROH and LUCK collectively dragged the benchmark down by 1,293 points. It also highlighted that Lucky Cement Company Limited reported its 3QFY26 earnings per share at Rs13.02, up 6 percent year-on-year but down 16 percent quarter-on-quarter, missing market expectations due to weaker margins and lower share of associate income.
Overall market participation showed a decline compared to the previous session. In the ready market, total volume stood at 837.372 million shares, down from 1.087 billion shares, while traded value decreased to Rs36.346 billion from Rs39.548 billion. Market capitalization contracted by Rs313.25 billion to Rs18.023 trillion from Rs18.336 trillion.
Market breadth remained decisively negative. In the ready market, 101 companies advanced, 348 declined and 36 remained unchanged out of a total of 485 traded scrips.
Among the most active stocks in the ready market, WorldCall Telecom led volumes with 75.382 million shares, closing lower at Rs1.30. Bank of Punjab followed with 68.530 million shares, ending at Rs33.79. Cnergyico traded 41.438 million shares to close at Rs8.12, while Hascol Petrol recorded 40.925 million shares and closed higher at Rs21.17.
On the gainers’ side, Khyber Textile Mills surged by Rs80.85 to close at Rs1,570.00, while Indus Motor Company Limited gained Rs66.53 to settle at Rs2,142.51. On the losing side, Blessed Textiles Limited declined by Rs90.06 to close at Rs1,221.84, while Rafhan Maize Products Company Limited dropped Rs87.49 to settle at Rs9,401.75.
Sector-wise, BR Automobile Assembler Index declined by 118.26 points or 0.46 percent to 25,660.44 with turnover of 6.615 million shares. BR Cement Index dropped 257.09 points or 2.31 percent to 10,890.76 with traded volume of 39.450 million shares.
BR Commercial Banks Index lost 847.16 points or 1.51 percent to close at 55,365.85 with turnover of 96.788 million shares. BR Power Generation and Distribution Index declined 399.11 points or 1.42 percent to 27,716.34 with volume of 46.009 million shares.
BR Oil and Gas Index shed 349.85 points or 2.42 percent to close at 14,116.65 with turnover of 70.021 million shares, while BR Tech and Communication Index decreased by 66.32 points or 1.86 percent to settle at 3,501.74 with 129.429 million shares traded.
Analysts noted that continued geopolitical uncertainty, elevated oil prices and earnings-related disappointments kept investors on the sidelines. Despite selective gains in a few stocks, the overall market tone remained negative, with investors closely monitoring external developments for directional cues.
Copyright Business Recorder, 2026
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