PSX loses 1,332 points amid selling pressure

Rising oil prices and inflation worries pushed the Pakistan Stock Exchange lower on Thursday, according to The Express Tribune, erasing early gains. The KSE-100 index shed 1,332.47 points, or 0.78 per cent, and ended the session at 168,636.85. Traders were also weighing uncertainty over any breakthrough in US-Iran diplomacy.

Crude rose about 2 per cent after China suspended oil product exports, tightening fuel supply that was already constrained. Domestically, inflation eased to 10.26 per cent in September from 11.1 per cent in August, mainly due to cheaper food, yet it is still above the medium-term objective set by the State Bank. The index had opened higher, reaching 170,270.16 at 10:15 am before turning negative.

An AKD Securities analyst said easing inflation and a firm external account could bolster confidence, while a positive move in the US-Iran conflict would act as a key trigger. JS Global's Nawaz Ali described sentiment as subdued and expected trading to stay quiet without fresh triggers. Volume totalled 548.4 million shares, down from 591.2 million on Wednesday, with 121 companies advancing and 323 declining.