KSE-100 Index Falls Nearly 500 Points Amid Selling Pressure

Selling pressure continued at the Pakistan Stock Exchange (PSX) on Thursday, with the benchmark KSE-100 Index falling by nearly 500 points.

At the close of trading, the KSE-100 Index settled at 175,547.98 points, down 495 points or 0.28%.

The market remained under pressure as investors sold shares across several major sectors. These included automobile assemblers, cement, fertiliser, oil and gas exploration companies, oil marketing companies, power generation firms and refineries.

Major index-heavy stocks such as HUBCO, OGDC, POL, PPL and Mari also closed lower, adding to the overall decline in the benchmark index.

The latest drop followed another weak session on Wednesday, when the KSE-100 Index fell 1,580.90 points, or 0.89%, to close at 176,042.99 points amid growing tensions in the Middle East.

Meanwhile, international oil prices also eased slightly on Thursday after recent gains. Brent crude futures fell $1.29, or 1.42%, to $89.45 per barrel, while US West Texas Intermediate (WTI) crude declined 56 cents, or 0.66%, to $83.90 per barrel.

The decline in oil prices came as tankers continued to leave the Middle East despite rising regional tensions and the widening US-Iran conflict.