The Pakistan Stock Exchange (PSX) ended marginally lower on Thursday, with the benchmark KSE-100 Index dropping over 250 points after an early buying spree.
At close, the benchmark index settled at 176,591.76, a decline of 254.60 points, or 0.14%.
Buying and selling were witnessed across key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing companies (OMCs), and power generation.
On Wednesday, the PSX closed lower after reports that the petroleum ministry was negotiating with local refineries over a possible reduction in diesel prices triggered selling in energy stocks. Continued volatility in international energy markets also weighed on investor sentiment.
The benchmark KSE-100 Index fell 1,109.15 points, or 0.62%, to settle at 176,846.36 points.
Meanwhile, oil prices steadied in early trading on Thursday as investors assessed the outlook for the US-Iran war and the security of shipping through the Strait of Hormuz.
Brent crude futures for October delivery rose 25 cents, or 0.3%, to $91.87 a barrel by 0037 GMT, while US West Texas Intermediate (WTI) crude futures for September slipped 2 cents to $85.81 a barrel.
The more actively traded October WTI contract gained 14 cents, or 0.2%, to $84.53 a barrel.
