PSX Ends Slightly Lower After Volatile Trading

The Pakistan Stock Exchange (PSX) closed slightly lower on Thursday as investors booked profits after the market gained earlier in the session.

The benchmark KSE-100 Index fell 47.93 points, or 0.03%, to close at 177,322.77 points.

Selling was seen in several major sectors, including automobile, cement, banking, oil and gas, oil marketing companies, power and refineries.

The market had remained closed on Wednesday due to Eid Milad-un-Nabi. On Tuesday, the KSE-100 Index had gained 404.02 points and closed at 177,370.71 points.

Meanwhile, oil prices continued to decline amid hopes that talks involving Iran and Qatar could help reopen the Strait of Hormuz and reduce supply concerns. Brent crude fell 0.7% to $87.24 per barrel, while WTI dropped 0.7% to $81.67.