Pakistan’s stock market came under renewed pressure on Thursday as investors reacted to persistent Middle East tensions.
The benchmark KSE-100 Index fell 1,486 points, or 0.86%, to 170,457.57 by midday. The decline followed a 699-point drop during the previous session, keeping investors cautious about the market’s near-term direction.
The KSE-100 opened on a weak note before briefly reaching an intra-day high of 171,945.83.
However, selling pressure later pushed the index down to a session low of 170,054.92.
The previous close stood at 171,943.59, while index volume reached 143.37 million shares by midday.
Meanwhile, traded value stood at Rs8.10 billion during the session.
Middle East Conflict Keeps Investors on Edge
Investors remained uneasy as the US-Iran conflict continued to spread across the region.
The situation has also included attacks on shipping in the Strait of Hormuz, adding to concerns across financial markets.
At the same time, crude oil prices have remained above $100 a barrel.
Higher international oil prices have already contributed to increases in local petrol and diesel prices.
Consequently, investors are concerned about renewed inflationary pressure and a wider import bill.
The oil price outlook could also influence expectations surrounding monetary policy, further adding to market uncertainty.
Heavy Selling Hits Major Sectors
Selling pressure remained visible across several index-heavy sectors during Thursday’s trading.
Commercial banks, cement companies, fertilizer firms and oil and gas exploration companies traded under pressure.
Oil marketing companies also remained among the sectors facing selling activity. Several heavyweight stocks traded in the red during the morning session.
These included FFC, MCB, Lucky Cement, Meezan Bank, MARI, OGDC and PSO. The broad-based weakness kept the overall market tone bearish at midday.
KSE-100 Extends Recent Slide
Thursday’s decline extended a multi-day losing streak for the benchmark index. The recent weakness has reflected geopolitical uncertainty as well as profit-taking following earlier market gains.
Moreover, trading activity remained thinner than in recent sessions, indicating cautious investor participation.
Selective buying in a few stocks offered some support. However, it was not enough to reverse the broader decline.
Oil Prices and Regional Developments in Focus
Market direction during the remaining trading hours is expected to remain sensitive to developments in the Middle East.
International oil price movements will also remain an important factor for investor sentiment. For now, continued geopolitical uncertainty and elevated oil prices are keeping investors cautious.
Unless sentiment improves, the KSE-100 could remain under pressure as investors closely monitor developments at home and abroad.
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