KARACHI: The Pakistan Stock Exchange (PSX) remained firmly under bearish pressure on Thursday, with the Index plunging as intensifying geopolitical tensions between the United States and Iran, coupled with a sharp rally in international crude oil prices, triggered widespread risk aversion and heavy selling across key sectors.
Reflecting the broad-based sell-off, the KSE-100 Index shed 2,690.48 points, or 1.54 percent, to settle at 171,739.45 points against the previous close of 174,429.93 points. During the session, the benchmark touched an intraday high of 175,237.60 points before sliding to an intraday low of 171,655.09 points as selling intensified.
Business Recorder’s benchmark indices also mirrored the negative sentiment. The BRIndex100 closed at 18,788.43 points, down 346.67 points or 1.81 percent, with a total turnover of 442.52 million shares. Similarly, the BRIndex30 settled at 67,899.77 points, losing 1,371.06 points or 1.98 percent, while total trading volume stood at 276.65 million shares.
According to Topline Securities, investor sentiment remained severely depressed throughout the session as the escalating conflict in the Middle East heightened concerns over global energy prices, inflationary pressures and Pakistan’s macroeconomic outlook. The brokerage house noted that the surge in WTI crude oil to around $90 per barrel raised fears of higher imported inflation and external account pressures, prompting investors to aggressively reduce exposure to equities.
Topline Securities further highlighted that United Bank Limited (UBL), Fauji Fertilizer Company (FFC), Engro Holdings (ENGROH), Lucky Cement (LUCK) and Hub Power Company (HUBC) emerged as the largest negative contributors to the benchmark index, collectively wiping out around 1,101 points.
Trading activity also slowed considerably. Total volume on the Ready Market declined to 525.12 million shares compared with 695.70 million shares in the previous session, while traded value fell to Rs23.43 billion from Rs25.40 billion.
Market capitalization of the Ready Market contracted sharply by around Rs265 billion to Rs19.36 trillion from Rs19.63 trillion recorded a day earlier.
Market breadth remained overwhelmingly negative. Out of 493 companies traded in the Ready Market, only 91 advanced, while 372 declined and 30 closed unchanged.
Cnergyico Pakistan once again topped the volume chart with 60.71 million shares. The stock closed higher at Rs10.10 compared with Rs9.88 previously. Pakistan Refinery followed with 28.41 million shares and ended at Rs52.54. TPL Properties traded 23.35 million shares to close lower at Rs13.22, while Dewan Cement recorded a turnover of 22.32 million shares and settled at Rs11.72.
Among individual gainers, Al-Abbas Sugar Mills surged by Rs33.01 to close at Rs917.96, while Thal Industries advanced Rs32.88 to Rs1,081.25. On the losing side, PIA Holding Company Limited (B) dropped sharply by Rs648.00 to settle at Rs16,952.00, while Khairpur Sugar Mills declined Rs136.43 to close at Rs1,227.87.
Among sector-specific Business Recorder indices, the BR Cement Index led the decline, falling 339.71 points or 2.77 percent to close at 11,934.23 points with turnover of 52.85 million shares. The BR Oil and Gas Index declined by 233.31 points or 1.59 percent to 14,408.28 points on volume of 33.77 million shares.
The BR Commercial Banks Index lost 901.09 points or 1.48 percent to settle at 60,174.96 points with turnover of 32.47 million shares. The BR Power Generation and Distribution Index dropped 401.11 points or 1.46 percent to close at 27,163.35 points on volume of 27.75 million shares.
The BR Automobile Assembler Index fell 302.01 points or 1.29 percent to 23,138.24 points with turnover of 1.80 million shares, while the BR Tech & Communication Index declined by 38.94 points or 1.07 percent to finish at 3,603.79 points after trading 47.03 million shares.
Analysts added that the market is expected to remain highly sensitive to developments in the Middle East, movements in global oil prices and any domestic macroeconomic or policy announcements, with volatility likely to persist in the near term as investors adopt a cautious and selective approach.
Copyright Business Recorder, 2026