KARACHI: Pakistan Stock Exchange (PSX) suffered a major pullback on Thursday as renewed US-Iran attacks and surging international crude prices triggered aggressive selling across the market, with benchmark indices falling sharply amid heightened concerns over inflation, the external account and broader macroeconomic stability.
The benchmark KSE-100 Index plunged 3,078.56 points, or 1.79 percent, to settle at 168,865.04 points against Wednesday’s close of 171,943.60 points. The index touched an intraday high of 171,945.84 points before falling to a low of 168,471.78 points, reflecting a trading range of 3,474.06 points.
Business Recorder’s sectoral indices also closed entirely in negative territory, reflecting the broad-based nature of the sell-off. The BRIndex100 fell 388.21 points, or 2.05 percent, to close at 18,540.50 points, with total turnover of 473.956 million shares. The BRIndex30 declined by 1,742.83 points, or 2.52 percent, to 67,404.88 points, with a total volume of 290.929 million shares.
According to a review provided by Topline Sales Desk, the local bourse came under heavy selling pressure as renewed US-Iran attacks shattered investor confidence, while a sharp increase in international oil prices further amplified concerns over inflation, the external account and overall macroeconomic stability. The brokerage said the KSE-100 Index plunged amid broad-based risk-off sentiment, while selling by local institutional investors further intensified pressure as investors trimmed positions amid heightened geopolitical uncertainty and fears of a prolonged disruption in global oil markets.
MEBL, FFC, PPL, OGDC and HUBC were among the major contributors to the decline, collectively dragging the KSE-100 Index down by approximately 1,004 points, according to Topline Securities.
Despite the sharp fall in equity prices, activity in the ready market increased compared with Wednesday. Total ready-market volume rose to 628.674 million shares valued at Rs27.016 billion, compared with 477.675 million shares worth Rs22.638 billion in the previous session. This represented an increase of 150.999 million shares, or approximately 31.61 percent, while traded value increased by Rs4.379 billion, or around 19.34 percent.
Market capitalisation, however, contracted sharply by Rs378.723 billion to Rs18.855 trillion from Rs19.233 trillion on Wednesday, reflecting the broad-based decline in stock prices.
Market breadth was sharply negative, with 406 issues declining, only 58 advancing and 35 remaining unchanged out of 499 active companies in the ready market.
Cnergyico PK topped the ready-market volume chart with 99.406 million shares. The stock closed the day at Rs12.37 against its previous rate of Rs13.06.
Tasdeeq Information followed with 40.989 million shares. It closed higher at Rs4.24 compared with Rs3.97 previously.
Media Times Ltd recorded 29.479 million shares. It finished the day at Rs6.70 against Rs6.83.
In ready-market price movements, Elahi Cotton Mills Limited recorded the highest absolute gain, advancing Rs20.92 to close at Rs230.11, while Khyber Textile Mills Limited gained Rs16.70 to settle at Rs1,886.60.
On the losing side, PIA Holding Company Limited B suffered the largest absolute decline, falling Rs1,044.95 to close at Rs16,405.05. Buxly Paints Limited followed, declining Rs103.04 to finish at Rs927.32.
The BR Automobile Assembler Index dropped 403.50 points, or 1.72 percent, to settle at 22,995.72 points, on turnover of 2.108 million shares.
The BR Cement Index lost 271.93 points, or 2.29 percent, to close at 11,609.18 points, with total volume of 38.189 million shares.
The BR Commercial Banks Index declined by 930.65 points, or 1.56 percent, to 58,724.50 points, with turnover of 32.071 million shares.
The BR Power Generation and Distribution Index fell 519.34 points, or 1.97 percent, to close at 25,843.40 points, on turnover of 41.633 million shares.
The BR Oil and Gas Index shed 307.65 points, or 2.06 percent, to settle at 14,623.53 points, with turnover of 29.078 million shares.
The BR Tech. & Comm. Index dropped 59.17 points, or 1.72 percent, to close at 3,376.42 points, on volume of 74.984 million shares.
Analysts noted that market activity is likely to remain volatile in the near term, amid ongoing geopolitical tensions and elevated international oil prices.
Copyright Business Recorder, 2026