Stocks at the Pakistan Stock Exchange remained under pressure on Thursday, with heavy selling dragging the benchmark index sharply lower for a second straight session.
The KSE-100 Index opened on a weak note and continued to slide through the early hours of trading, reflecting cautious investor mood. The downward trend persisted into midday, though the pace of losses slowed briefly before intensifying again in the afternoon.
The index touched an intraday low of 168,416.02 points before recovering slightly in late trading. However, the rebound failed to hold, and the market closed at 169,173.37, down 2,405.93 points or 1.40 percent from the previous session.
Trading activity remained healthy, with total volumes crossing 310 million shares. The index moved within a range of 168,416.02 to 171,561.74 during the session.
Broad-based selling keeps pressure intact
The decline was largely broad-based, with several heavyweight stocks contributing to the fall. Market participants appeared cautious amid ongoing uncertainty on the global front, which has kept risk appetite in check.
Among the most active stocks, FNEL stood out with a strong gain of over 23 percent. Other notable performers included YOUW and TPL, which also posted double-digit increases.
On the losing side, steep declines were seen in high-priced stocks, with KPUS dropping 10 percent, followed by losses in ASLCPS and ZIL, each falling close to the same margin.
Sentiment remains weak after prior losses
The latest drop follows a negative session on Wednesday, when the benchmark index had already fallen by over 1,500 points. Market sentiment has remained fragile, with investors closely tracking geopolitical developments, particularly tensions linked to US-Iran talks.
Global markets show resilience
In contrast, international markets offered a more positive picture. Asian equities moved higher, taking cues from strong gains on Wall Street.
The S&P 500 rose 1 percent overnight, while the Nasdaq Composite surged 1.6 percent to fresh record highs, supported by encouraging corporate earnings.
Across Asia, markets in Japan, South Korea and Taiwan extended gains, with Japan’s benchmark index crossing the 60,000 level. A broader regional index tracking Asia-Pacific shares outside Japan also reached a record high, driven by strong performance in technology stocks.
Despite rising oil prices linked to tensions in the Gulf, global investors appeared more focused on earnings growth and economic resilience, offering support to equities outside Pakistan.
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