KARACHI: Profit-taking and broad-based selling across banks, exploration and production companies, cements and oil marketing companies dragged the Pakistan Stock Exchange (PSX) sharply lower on Thursday, as elevated crude oil prices and persistent geopolitical uncertainty weakened investor sentiment and erased the market’s early gains above the 170,000-point level.
The benchmark KSE-100 Index shed 1,332.47 points, or 0.78 percent, to close at 168,636.85 points compared to 169,969.33 points in the preceding session. The index initially moved above the 170,000-point level and touched an intraday high of 170,688.38 points, but selling pressure subsequently intensified, taking it to an intraday low of 168,567.79 points before the index settled at 168,636.85 points.
The BRIndex100 closed at 18,570.52 points, down 171.18 points, or 0.91 percent, from the previous close of 18,741.70 points, with total volume of 428.185 million shares. The BRIndex30 declined by 994.28 points, or 1.47 percent, to close at 66,738.32 points against 67,732.60 points previously, with total volume of 268.738 million shares.
Topline Securities, in its market review, said the KSE-100 Index endured a volatile and predominantly negative session, opening on a positive note and briefly moving above the 170,000-point level. However, the early momentum failed to hold as profit-taking and broad-based selling intensified during the latter part of the session, resulting in a sharp decline.
The brokerage said PPL, UBL, HUBC, OGDC and FFC remained the major drags on the index, collectively contributing around 470 points to the decline. Selling pressure was witnessed across banks, E&Ps, cements and OMCs, reflecting a cautious trading environment. Topline Securities added that elevated crude oil prices and persistent geopolitical uncertainty further dampened market sentiment and prompted investors to adopt a more defensive stance.
Activity in the ready market also moderated compared with the previous session. Total ready-market turnover fell to 548.381 million shares from 591.235 million shares on Wednesday, representing a decrease of 42.854 million shares, or 7.25 percent. Traded value declined to Rs17.054 billion from Rs20.192 billion, down Rs3.138 billion, or 15.54 percent.
Total market capitalisation also contracted by Rs.151.242 billion to Rs.18.776 trillion from Rs.18.928 trillion in the preceding session. Market breadth was distinctly bearish, with 323 companies declining, 121 advancing and 48 remaining unchanged out of 492 active issues.
Kohinoor Spinning led ready-market volumes with 93.752 million shares. The stock closed at Rs.5.84 against Rs5.73. First National Equities followed with 38.617 million shares. The stock settled at Rs1.21 compared with Rs1.12. Cnergyico PK recorded 26.026 million shares. It close at Rs12.98 against Rs13.12.
In ready-market price movements, Sapphire Textile Mills Limited recorded the largest price advance, gaining Rs46.61 to close at Rs1,567.66. Rafhan Maize Products Company Limited followed, advancing Rs38.40 to settle at Rs8,841.00.
On the declining side, PIA Holding Company Limited B posted the largest fall, dropping Rs81.51 to close at Rs15,181.00, while Nestle Pakistan Limited declined Rs48.20 to end at Rs7,108.39.
The BR Automobile Assembler Index closed at 22,300.23 points, down 131.42 points, or 0.59 percent, with total turnover of 3.492 million shares.
The BR Cement Index fell 152.69 points, or 1.30 percent, to 11,633.21 points against its previous close, with total turnover of 19.772 million shares.
The BR Commercial Banks Index declined 350.39 points, or 0.60 percent, to close at 58,474.38 points, with turnover of 16.667 million shares.
The BR Power Generation and Distribution Index dropped 337.38 points, or 1.32 percent, to 25,185.01 points, with total turnover of 30.643 million shares.
The BR Oil and Gas Index decreased by 175.23 points, or 1.17 percent, to close at 14,788.77 points, with turnover of 31.163 million shares.
The BR Tech & Comm Index declined 39.20 points, or 1.18 percent, to 3,283.14 points, with total turnover of 42.199 million shares.
Going forward, analysts say market activity is expected to remain sensitive to international oil-price movements, geopolitical developments and emerging domestic macroeconomic indicators, while investors may continue to monitor corporate developments and earnings-related cues for direction.
Copyright Business Recorder, 2026
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