The Pakistan Stock Exchange (PSX) continued its downward trajectory on Thursday, with the benchmark KSE-100 index falling 1,732 points, or 1.09%, to close at 156,733 – marking a new closing low and breaking the previous low of 158,443 recorded on October 205.
Investor sentiment remained fragile amid escalating regional tensions following the collapse of Islamabad-Kabul talks, dampening hopes for cross-border trade and economic stability. “The diplomatic setback fueled risk aversion and triggered institutional selling across key sectors,” said Ali Najib, deputy head of trading at Arif Habib Ltd.
Read: PSX extends bear run, falls 2,063 points
The session initially opened positively, with the index hitting an intraday high of 159,507 points (+1,042 points or +0.66%) on selective buying. However, the momentum dissipated as broad profit-taking dragged the market deep into negative territory by the close.
Heavyweight counters including Engro Corporation (ENGRO), Bank of Punjab (BOP), Systems Limited (SYS), United Bank Limited (UBL), MCB Bank (MCB), Thal Limited (THALL), Bank Alfalah (BAFL), Mari Petroleum (MARI), Service Industries (SRVI) and Pakistan Petroleum (PPL) collectively erased 1,538 points from the benchmark.
Read more: The PSX extends its losing streak as the index falls by 2,062 points
Despite the decline, overall activity remained robust with 846.8 million shares traded worth Rs 37.5 billion. BOP led the volumes with 84.1 million shares changing hands.
Analysts noted that the index’s drop below the 157,000 level reflects the continued bearish sentiment. “A rebound above 160,000 in the final session of the week will be crucial to restore investor confidence and hint at near-term stabilization,” they added. “Failure to recover could expose the market to further downside in the coming sessions.”
