The Pakistan Stock Exchange (PSX) continued its losing run as the benchmark KSE-100 Index dropped over 2,800 points on Thursday.
At close, the benchmark index settled at 162,994.17, a decline of 2,829.70 points or 1.71%.
Selling pressure was evident across major sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration firms, oil marketing companies (OMCs), and power generation. Heavily weighted stocks such as HUBCO, MARI, OGDC, POL, PPL, MCB, MEBL and UBL all closed in negative territory.
On Wednesday, the Pakistan Stock Exchange (PSX) witnessed a sharp decline as weak corporate earnings, losses in key index movers, and cautious investor sentiment weighed on the market. Concerns over rising oil prices and geopolitical tensions further dampened confidence, dragging the benchmark KSE-100 Index down by 2,588.35 points, or 1.54%, to settle at 165,823.88.
Meanwhile, global oil markets added to the pressure, with Brent crude surging to a four-year high on fears that a potential escalation in US-Iran tensions could disrupt Middle Eastern supply.
Brent futures climbed $4.28, or 3.63%, to $122.31 per barrel, after hitting an intraday peak of $126.41, the highest level since March 2022.
