PSX falls as KSE-100 Index drops nearly 300 points

The Pakistan Stock Exchange (PSX) continued its downward trend on Thursday, with the benchmark KSE-100 Index falling by nearly 300 points.

At the close of trading, the index settled at 169,703.60, showing a decline of 276.16 points (0.16%).

Investor sentiment remained weak as selling pressure continued in major sectors, including automobiles, cement, and commercial banks. Key stocks such as PPL, PAEL, OGDC, and KML also closed in negative territory, contributing to the overall decline.

On Wednesday, the market had already fallen by 903.12 points (0.53%), closing at 169,427.44 points, compared to the previous session.

Meanwhile, the National Economic Council (NEC) approved a national development plan of Rs3.669 trillion for the fiscal year 2026-27. The package includes Rs838 billion in foreign assistance and sets a GDP growth target of 4%.

The meeting, chaired by Prime Minister Shehbaz Sharif, also approved Rs1 trillion for the federal PSDP, Rs2.218 trillion for provincial development programs, and Rs451 billion for state-owned enterprises.

In addition, the NEC reviewed revised economic figures for the outgoing fiscal year 2025-26. It approved Rs820 billion for the federal PSDP, Rs2.938 trillion for provincial development, and Rs355 billion for SOEs, while confirming a GDP growth target of 3.7% for FY26.