PSX: KSE-100 sheds over 3,000 points on Middle East conflict, oil surge

Business Recorder reported that the KSE-100 closed 1.79 per cent lower on Thursday at 168,865.04, a loss of 3,078.55 points, as heavy selling swept the Pakistan Stock Exchange. The decline followed the largest attacks on shipping by Iran and the United States since the conflict began six months earlier. Intra-day, the benchmark peaked at 171,945.83 before sliding to a low of 168,471.78 as selling intensified in the final hour.

Sana Tawfik, Head of Research at Arif Habib Limited, blamed the sell-off on fresh tensions involving the US and Iran, along with crude prices that moved past $100 a barrel after the strikes. She expects the State Bank of Pakistan to hold its stance steady when it announces its decision on Monday, though successive rises in domestic oil prices have sharpened attention on that outcome.

Elsewhere, Asian shares fell, and Brent crude was priced at $101.4 a barrel in early trading after crossing $100 on Wednesday, a level it had not touched since July. Trading volume across the all-share index rose to 628.67 million shares, up from 477.67 million in the prior session, and the traded value reached Rs27.02 billion, compared with Rs22.64 billion previously. Cnergyico PK topped the volume table with 99.40 million shares, while Media Times Ltd recorded 29.48 million. Of the 499 companies that traded, 406 closed lower, 58 rose and 35 were unchanged.