The benchmark KSE-100 Index closed sharply lower on Thursday, shedding 2,829 points, or 1.71 per cent, to settle at 162,994 as investors opted for caution amid rising global oil prices and weak international market cues.
KSE-100 closed at 162,994, down 2,829 pts (-1.71% DoD), as broad-based selling pressure dominated the session amid weak global cues and rising oil concerns, said Ahmed Sheraz — KASB KTrade.
Volumes remained moderate at 366 million shares, reflecting cautious participation with a clear sell-side tilt. Pressure was led by Banks, E&Ps, and Cement, with heavyweights including UBL, PPL, FFC, NBP, ENGROH, and LUCK among key laggards, dragging the index lower.
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Sentiment remained fragile as international oil markets spiked, with Brent touching ~$126/bbl and WTI crossing ~$110/bbl, intensifying inflationary concerns and keeping risk appetite subdued. Additional pressure stemmed from weak overnight performance in US and Asian equities, offering no supportive trigger for local markets.
A brief intra-day recovery was observed in the latter half as oil prices cooled (Brent easing toward ~$117), though this appears more like a knee-jerk rebound rather than a trend reversal.
Going forward, market direction remains tied to geopolitical developments, particularly the evolving US-Iran situation and the trajectory of global oil prices. The near-term outlook stays cautious, with volatility expected to persist until clarity emerges.
On Wednesday, selling pressure intensified at the PSX, wiping out early gains and pushing the market deep into the red, as investors remained wary of building fresh positions.
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