PSX: KSE-100 down nearly 1,200 points amid selling pressure

The benchmark KSE-100 index slipped nearly 1,200 points on Thursday at the Pakistan Stock Exchange, Business Recorder reported, after an early rally faded under persistent selling. At 3:15pm the index stood at 168,785.85, a decline of 1,183.47 points or 0.70%. Losses were spread across carmakers, banks, cement producers, upstream oil and gas firms and oil marketing companies.

Index-heavy shares DGKC, HBL, MCB, UBL, NBP, MARI, OGDC, PPL and PSO were all in negative territory. Separately, the Federal Board of Revenue pushed the income tax return deadline for tax year 2026 from 30 September to 15 October, an extension announced on Wednesday.

Regional sentiment stayed fragile, with Asian shares subdued and global bonds still under pressure following a weak September. Investors weighed US August inflation that rose less than expected, trimming bets on a Federal Reserve rate increase on October 28. Stalled US-Iran peace talks kept oil prices elevated, while Micron's strong earnings did little to lift Asian sentiment.