The Pakistan Stock Exchange closed sharply lower on Thursday. The PSX-100 index fell 1,733.57 points, down 1.01 percent, to close at 170,498.95. The drop came after three straight sessions of gains, as investors locked in profits. Rising oil prices and Middle East tensions added to the pressure.
The index had touched an intraday high of 172,491.17 before falling to a low of 170,418.38. The PSX-30 index also dropped, losing 544.11 points to close at 50,739.7.
Brent crude oil prices rose more than 2 percent during the session, trading above $100 per barrel. This happened as talks between the US and Iran showed little progress. Investors also stayed cautious over a possible US ban on diesel exports. This raised worries about global energy supply.
Ali Najib, deputy head of trading at Arif Habib Ltd, said the session turned negative in its second half. He expects the market to stay volatile going forward. He said buying could return if tensions ease and oil prices fall. The upcoming IMF review will also shape market direction.
