PSX dips 509 points amid cautious trading

According to The Express Tribune, the benchmark KSE-100 finished the first trading day of September lower, shedding 508.69 points, or 0.29 per cent, to end at 176,466.99. The index had opened firmly higher, but buyers stepped back once selling pressure built up. Trading remained wary as investors weighed geopolitical tensions and rising oil prices.

Banking and cement counters were the heaviest drags on the session. Analyst Mubashir Anis Naviwala of JS Global put the banking drag at 490 points, while cement firms took off another 131 points. Fertiliser and technology shares cushioned part of the fall, adding 71 and 70 points respectively. Lucky Cement, Meezan Bank, MCB Bank and Bank Alfalah were among the stocks pulling the benchmark lower.

Turnover shrank to 784 million shares from Monday's 937 million, with traded value reaching Rs37 billion. Cnergyico PK led the volume table with 191.7 million shares, slipping Rs0.46 to Rs15. The National Clearing Company data showed outside investors offloading Rs109.6 million in shares. Inflation also drew attention, with the August figure rising 11.15 per cent, faster than the market had expected.