The Pakistan Stock Exchange (PSX) on Thursday witnessed a volatile session as profit-taking erased early gains with the benchmark KSE-100 Index dropping nearly 50 points.
At close, the benchmark index settled at 177,322.77 points, a decrease of 47.93 points, or 0.03%.
Selling interest was witnessed across key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing companies (OMCs), power generation and refineries.
The PSX remained closed on Wednesday due to Eid-Milad-un-Nabi. On Tuesday, the market closed modestly higher as strong buying in banking and cement stocks offset selective profit-taking in energy counters. The KSE-100 Index gained 404.02 points, or 0.23%, to settle at 177,370.71 points.
Meanwhile, oil prices extended their recent decline on Thursday, with investors expecting talks between Iran and Qatar to potentially facilitate the reopening of the strategically important Strait of Hormuz and ease supply disruptions stemming from the Middle East conflict.
Brent crude futures fell 60 cents, or 0.7%, to $87.24 a barrel by 0004 GMT, marking a fourth consecutive session of losses.
West Texas Intermediate (WTI) crude futures declined 56 cents, or 0.7%, to $81.67 a barrel, extending losses for a fifth straight day.
