KSE-100 Index closes over 500 points lower after volatile trading

The KSE-100 index closed 508.69 points lower at 176,466.99 on Tuesday, a decline of 0.29 per cent, according to Business Recorder. The benchmark opened positively and reached an intra-day high of 177,800.28, but selling in the later hours dragged it to a low of 176,375.01 before the close.

Topline Securities described the session as volatile, with prices swinging between gains and losses amid uncertainty linked to the US-Iran conflict and its effect on global oil prices. The refinery group drew strong interest and saw a sharp rise in traded volumes, while market talk suggested five refineries might finalise upgradation agreements this week.

SYS, ENGROH, EFERT, OGDC and AGP were the main positive contributors, adding about 359 points between them, whereas MEBL, MCB, BAFL and LUCK pulled the index down by roughly 294 points. Cnergyico PK led volumes with 191.73 million shares, and 292 of the 498 companies traded fell while 174 rose. The rupee closed at 277.46 against the dollar, a gain of Re0.01.