PSX: KSE-100 plunges over 1,300 points amid selling pressure

Business Recorder reported that the KSE-100 closed 1,332.47 points lower at 168,636.85 on Thursday, a fall of 0.78 per cent, as persistent selling erased the morning's advance. The index had opened near 170,000 and touched 170,688.38, but sellers gained control through most of the session. Brief recoveries around midday and in the final hour could not be sustained, and the benchmark finished close to its session low of 168,567.78.

Separately, the Federal Board of Revenue moved the income tax return filing date for tax year 2026 to October 15 from the earlier September 30 cutoff. The previous session had closed 368.92 points higher at 169,969.33 on buying in banking, cement and fertiliser counters. Thursday's reversal therefore followed a day of modest gains that had been supported by those sectors.

Elsewhere in Asia, shares were muted and Japan's Nikkei still gained more than 1 per cent on chip-related buying, while Micron's strong results did little to brighten the mood. Stalled US-Iran peace talks kept oil prices high and weighed on sentiment across the region. Softer-than-expected US inflation data for August reduced traders' bets on a Federal Reserve rate increase on October 28. Market pricing for a hike this month fell to 38 per cent from 50 per cent a day earlier.