The Pakistan Stock Exchange continued its downward steak on Thursday with the benchmark KSE-100 Index losing over 1,400 points amid uncertain geopolitical situation in the Middle East.
At close, the benchmark index settled at 154,421.43, a decline of 1,437.04 or 0.92%.
Selling pressure was witnessed across several major sectors, including automobile assemblers, cement, commercial banks, fertilizer, oil and gas exploration, oil marketing companies (OMCs), power generation, and refineries. Index-heavy stocks such as ARL, HUBCO, MARI, OGDC, PPL, MCB, MEBL, and NBP also traded in negative territory.
On Wednesday, the Pakistan Stock Exchange (PSX) closed the session on a negative note as investors remained cautious amid rising geopolitical tensions in the Middle East and volatility in global energy markets.
The benchmark KSE-100 Index settled at 155,858.48 points, declining by 318.64 points, or 0.20%.
Meanwhile, oil prices surged on Thursday after Iran intensified attacks on oil and transport facilities across the Middle East, fueling concerns over a prolonged conflict and potential disruptions to oil flows through the Strait of Hormuz.
Brent crude futures climbed $8.54, or 9.28%, to $100.52 per barrel at 0354 GMT, while US West Texas Intermediate (WTI) crude rose $7.22, or 8.28%, to $94.47 per barrel.
