The Pakistan Stock Exchange ended Thursday’s session sharply lower, with the benchmark KSE-100 Index closing at 168,636.85 — down 1,332.47 points, or 0.78 percent — as geopolitical tensions in the Middle East kept investors on edge.
The index swung within a 2,120-point range during the session, touching an intraday high of 170,688.38 before sliding to a low of 168,567.78. Of the 100 index constituents, 86 closed lower, 13 advanced and one remained unchanged, on volume of 149.85 million shares.
Commercial banks, oil and gas exploration companies and cement stocks bore the brunt of the selling. Pakistan Petroleum dragged the index by 131.47 points, followed by UBL at 106.06 points, Hub Power at 84.68 points, OGDC at 76.24 points and Fauji Fertilizer at 71.69 points.
In the broader market, the KSE All-Share Index closed at 102,097.08, down 795.55 points or 0.77 percent. Total market volume stood at 548.38 million shares against traded value of Rs17.05 billion, with 323 companies declining and 121 advancing.
Market watchers linked the decline to renewed US-Iran tensions and the resulting rise in international crude prices, which have clouded the outlook for inflation and Pakistan’s external account given the impasse over the Strait of Hormuz shipping route.
Sentiment remained cautious into Friday’s session, with analysts noting investors were also tracking incoming US employment data and the domestic monetary policy outlook amid elevated fuel prices.
Leave a Reply