KARACHI – The PSX experienced a major sell-off on Thursday, with the KSE-100 Index falling 6,683 points, or 3.74%, to close at 172,170. Analysts said investor sentiment weakened amid rising global uncertainties.
The sharp decline erased gains from the previous session and highlighted the fragile market conditions. “Investor confidence deteriorated due to escalating tensions between the United States and Iran,” said Ali Najib, Deputy Head of Trading at Arif Habib Ltd.
Rising international oil prices also added pressure. Crude prices surged over 6% in two days, negatively impacting Pakistan’s oil-importing economy. Experts noted that the spike heightened macroeconomic concerns and further strained market confidence.
On the corporate front, FABL reported CY25 earnings of Rs22.5 billion, down 6% year-on-year, with quarterly earnings up 83% YoY. The bank declared a cash dividend of Rs2 per share, totaling Rs6.5 per share for the year.
Heavy selling was observed in major companies including FFC, ENGROH, UBL, OGDC, PPL, MEBL, LUCK, MCB, HUBC, and SYS. Together, these stocks contributed to a 3,037-point decline in the index.
Despite the correction, trading volumes remained active, with 539.9 million shares exchanged and a turnover of Rs27.3 billion. WTL led the volume chart with 84.1 million shares traded.
Market analysts said the KSE-100 index could not hold the 173,000 level due to persistent selling pressure. The PSX now faces near-term challenges, with the 172,000–170,000 range expected as critical support. Meanwhile, 180,000 has emerged as immediate resistance for any recovery attempt.
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Investors are advised to monitor global developments closely, as geopolitical risks and rising oil prices are likely to continue influencing the PSX in the coming sessions.
