The Pakistan Stock Exchange (PSX) closed lower for the third consecutive session on Thursday as the benchmark KSE-100 index plunged nearly 2,700 points to settle below 171,740. Arif Habib Limited (AHL) noted that the KSE-100 closed lower for the third straight trading session, shedding 2,690.48 points, or 1.54%, to settle at 171,739.45. Only nine shares advanced against 91 decliners, with Attock Refinery (+1.73%), Air Link Communication (+2.1%) and Cnergyico Pk (+2.23%) providing the main support to the index.
On the downside, UBL (-2.73%), Fauji Fertiliser (-1.61%) and Engro Holdings (-2.3%) emerged as the biggest drags. Among corporate developments, Air Link announced plans to set up an electric bike assembly plant at its facility in the Sundar Green Special Economic Zone. The project forms part of the company's long-term strategy to diversify its manufacturing portfolio into emerging technology-driven mobility solutions.
On the geopolitical front, AHL said, the Iran-backed Houthis claimed their first attack on commercial ships in recent months, targeting two Saudi Arabian oil tankers in the Red Sea with missiles and drones. Meanwhile, Egypt indicated it sees a path for the United States and Iran to de-escalate tensions after nearly two weeks of tit-for-tat attacks and resume peace talks. Market participants are watching the rising 200-day moving average near the 170,000 level, which is expected to trigger fresh demand for equities and potentially halt the multi-week decline.
"Heading into the final session of the week, the benchmark index stands 2.31% lower," AHL added. Topline Securities, in its market review, highlighted that bears remained firmly in control of the local bourse as intensifying geopolitical tensions continued to dampen investor sentiment. The heightened uncertainty fueled a sharp rally in global energy markets, with WTI crude surging to around $90 per barrel, raising concerns over inflationary pressures and the broader economic outlook.
Against this backdrop, it said, the benchmark KSE-100 index faced aggressive selling throughout the session, plunging to the intra-day low of 2,774 points before settling at 171,739, down 2,690 points (-1.54%). UBL, Fauji Fertiliser, Engro Holdings, Lucky Cement, and Hubco emerged as the top negative contributors, collectively subtracting 1,101 points from the index. Market activity remained low, with to…
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