PSX loses 1,332 points in sharp sell-off

The benchmark KSE-100 closed 1,332.47 points lower on Thursday at 168,636.85, erasing the early gains recorded on the Pakistan Stock Exchange. According to The Express Tribune, the index fell 0.78% after an intraday peak of 170,688.38 and a low of 168,567.79.

Global oil prices firmed by about 2% during the session after China stopped exporting oil products, tightening a fuel market already short of supply. Investors were also weighing an uncertain outlook for renewed talks aimed at ending the US-Iran conflict, which kept sentiment cautious.

Domestic inflation eased to 10.26% in September, down from 11.1% in August, driven mainly by food, yet it still exceeded the medium-term range set by the State Bank of Pakistan. Activity was lighter than the previous day, with 548.3 million shares changing hands versus 591.2 million on Wednesday. Across the ready market, 121 stocks gained, 323 fell and 48 finished flat. Kohinoor Spining led activity with 93.8 million shares traded and closed Rs0.11 higher at Rs5.84.