The Pakistan Stock Exchange (PSX) closed in negative territory on Thursday as renewed selling pressure erased early gains and pushed the benchmark KSE-100 Index down by more than 1,700 points. Persistent geopolitical tensions and concerns over potential disruptions to global energy supplies weighed on investor sentiment.
According to the PSX website, the KSE-100 Index initially gained nearly 1,200 points to reach an intraday high of 180,310. However, the market reversed after noon as investors began selling shares across major sectors.
The benchmark index closed at 177,373.76, losing 1,710.04 points or 0.95% from the previous session. Selling pressure was particularly visible in automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing companies, and power generation stocks.
The decline followed Wednesday’s subdued session, when late profit-taking erased earlier gains and pushed the KSE-100 Index down 251.44 points, or 0.14%, to close at 179,083.80.
Global market weakness also contributed to cautious investor sentiment. Asian stocks declined following an 8.8% drop in Nvidia shares during extended trading, which weighed on semiconductor and technology stocks. Taiwan’s benchmark index fell 2.6%, while South Korea’s Kospi declined 0.9% and Japan’s Nikkei 225 lost 0.9%.
Meanwhile, Brent crude prices fell 1% to $91.87 per barrel as easing concerns over an escalation of the Middle East conflict reduced the risk premium in oil markets. Bitcoin and Ether also declined by around 1%, trading at $73,579.07 and $2,047.27, respectively.
