PSX: KSE-100 down over 800 points amid selling pressure

Business Recorder reported that the KSE-100 surrendered its early gains on Thursday, slipping to 169,106.82 by 1:11pm, a fall of 862.50 points or 0.51 per cent. Persistent offloading wiped out the morning advance and pushed the benchmark down by more than 800 points during the trading day.

Weakness appeared among car makers, cement producers, banks, oil and gas explorers and fuel marketers. Index heavyweights DGKC, HBL, MCB, UBL, NBP, MARI, OGDC, PPL and PSO all traded in negative territory. Separately, the Federal Board of Revenue moved the income tax return filing deadline for tax year 2026 to October 15 from September 30, a decision announced on Wednesday.

Abroad, Asian shares were muted and global bonds weak after US inflation rose by less than forecast in August, reducing bets on a Federal Reserve hike on October 28. Market pricing for a hike this month fell to 38 per cent from 50 per cent a day earlier, based on the CME FedWatch tool, while stalled US-Iran peace talks kept oil prices elevated.