Selling returns to bourse amid geopolitical tensions, KSE-100 down nearly 2,800 points

Selling pressure returned at the Pakistan Stock Exchange (PSX) amid escalation in the Gulf region, with the benchmark KSE-100 Index shedding nearly 2,800 points during the opening hours of trading on Thursday. At 10:40am, the benchmark index was hovering at 151,503.86, a decrease of 2,788.39 points or 1.81%. Selling was observed in key sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks, including ARL, HUBCO, MARI, OGDC, POL, PPL, HBL, MCB, MEBL and NBP, traded in the red. On Wednesday, PSX witnessed a strong bullish session with the benchmark index posting a sharp recovery amid improved investor sentiment, supported by easing international oil prices and renewed value hunting across key sectors. The KSE-100 Index closed at 154,292.26 points, registering a significant gain of 4,276.09 points or 2.85%.