PSX Closing Bell: Bulls Under Siege

Mettis Global reported that the benchmark KSE-100 closed 0.68 per cent lower on Thursday at 167,441.90, shedding 1,138.50 points as broad selling weighed on the market. Investors turned cautious amid fresh worries about Middle East tensions and possible interruptions to crude supplies. Oil prices climbed on the same escalating regional tensions, adding strain to investor appetite and hitting energy-intensive industries hardest.

The session spanned 2,036.72 points, peaking at 169,486.60 before sliding to a low of 167,449.88. Breadth was heavily negative, with 81 companies ending lower, 18 higher and one unchanged on volume of 152.07 million shares. UBL was the largest drag, removing 152.76 points, while FFC, SYS, EFERT and POL also pulled hard. Banks accounted for the biggest sector hit at 403.25 points, ahead of fertilizer at 183.54 points.

Mettis Global also noted that the All-Share Index finished at 101,272.49, down 0.66 per cent, while traded value dropped by Rs4.64 billion to Rs17.72 billion. YOUW headed the losers with a 4.58 per cent fall, followed by BML, INIL, GHNI and FATIMA, whereas LOTCHEM topped the gainers with a 3.95 per cent rise. Over the fiscal year to date the KSE-100 has shed 12,860 points or 7.13 per cent, and 6,612 points or 3.80 per cent in the current calendar year.