Selling pressure persisted at the Pakistan Stock Exchange (PSX) on Thursday, as the benchmark KSE-100 Index fell over 1,100 points.
At close, the index settled at 181,456.33, down 1,113.48 points, or 0.61%.
Selling activity was seen across major sectors, including automobile assemblers, cement, commercial banks, fertilizer, oil and gas exploration, oil marketing companies (OMCs), power generation and refineries.
On Wednesday, the equity market remained under pressure amid persistent geopolitical uncertainty and cautious investor sentiment.
The KSE-100 Index closed at 182,569.82 points, shedding 1,381.69 points, or 0.75%, and extending its consolidation phase.
Meanwhile, the Pakistani rupee strengthened against the US dollar in early inter-bank trading on Thursday, appreciating 0.07%. At around 10:00am, the local currency was quoted at 279.78 per dollar, up by Rs0.19 from Wednesday’s closing level of 279.97.
Moreover, Oil prices dropped more than 3% on Thursday amid tensions between the US and Iran as reports emerged that Washington might take military action against Iran and supply disruption.
