Selling pressure continued at the Pakistan Stock Exchange (PSX) with the benchmark KSE-100 Index shedding nearly 500 points on Thursday.
At close, the benchmark index settled at 175,547.98, a decline of 495.00 points or 0.28%.
Selling pressure was witnessed in key sectors, including automobile assemblers, cement, fertiliser, oil and gas exploration companies, oil marketing companies (OMCs), power generation firms, and refineries. Several index-heavy stocks, including HUBCO, OGDC, POL, PPL, and Mari, ended the session in negative territory.
On Wednesday, PSX remained under pressure amid the escalating tensions in the Middle East. The benchmark KSE-100 Index shed 1,580.90 points, or 0.89%, to settle at 176,042.99 points.
Meanwhile, international oil prices eased slightly on Thursday after recent gains, as oil tankers continued departing from the Middle East despite escalating regional tensions and the expansion of the US-Iran conflict beyond its primary fronts.
Brent crude futures declined by $1.29, or 1.42%, to $89.45 per barrel at 0110 GMT.
US West Texas Intermediate (WTI) crude also dropped by 56 cents, or 0.66%, trading at $83.90 per barrel.
