Stocks dumped as PSX dives over 3,000 points

The KSE-100 closed 1.79 per cent lower at 168,865.04 on Thursday, a fall of 3,078.56 points, after slipping below the 170,000 level and reaching its July lows. According to The Express Tribune, investors sold stocks as global oil prices surged and fresh US-Iran attacks heightened geopolitical risk. Only 58 stocks rose against 406 that fell, and 629 million shares changed hands, valued at Rs27 billion.

Meezan Bank fell 3.58 per cent, Pakistan Petroleum lost 3.05 per cent and Fauji Fertiliser Company dropped 1.67 per cent, making them the heaviest drags on the index. Oil and Gas Development Company and Hubco also weighed on the benchmark, while Atlas Honda and Kohat Cement finished slightly higher. Interloop reported FY26 earnings per share of Rs9.38, up 144 per cent year on year, along with a Rs4 dividend.

According to media reports, the Prime Minister has signed off on a draft five-year automobile plan that grants tax perks for new energy vehicles while safeguarding current assemblers. Topline linked the decline to renewed strikes between the US and Iran and to a steep rise in global crude, which together worried investors about inflation and the external account balance. Arif Habib cautioned that further losses are possible if the July low level fails to contain selling.