PSX Closing Bell: Red Runs Deep

Mettis Link News reported that the benchmark KSE-100 closed 1.01 per cent lower on Thursday at 170,498.94, a fall of 1,733.57 points. Fresh profit-taking and sell-offs erased the bulk of the prior session's advance. Losses were concentrated in commercial banks, cement, oil and gas exploration, power and refinery stocks, and 87 of the index's 100 constituents closed lower.

The index moved within a band of 2,072.78 points, touching 172,491.16 at its peak before dropping to 170,418.38. Volume climbed to 314.82 million shares. Among the heaviest decliners, KEL shed 7.35 per cent, while CNERGY, TGL, ATRL and NBP lost between 3.18 and 5.87 per cent. On the upside, GAL rose 1.38 per cent, with AGP, INIL, EFERT and HUMNL also in positive territory.

UBL was the largest drag, removing 199.98 points, followed by LUCK, MARI, HUBC and NBP. The All-Share Index fell 1.08 per cent to 103,103.09, while traded value reached Rs27.54 billion. Commercial banks were the weakest sector, subtracting 493.67 points from the index.