PSX closes lower on Thursday as the market struggles to find direction, weighed down by investor caution and external pressures. The benchmark KSE-100 index shed 151 points, settling at 147,344 after briefly touching an intraday high of 148,042.
The session reflected a continuation of the consolidation phase, where traders largely stayed on the sidelines. Concerns over potential flood damage to Punjab’s agriculture sector, combined with the central bank’s signal of muted FY26 growth, added to the gloomy sentiment. Meanwhile, volatility from futures rollovers and sliding international crude oil prices further deepened investor hesitation.
Arif Habib Corp’s MD, Ahsan Mehanti, noted that PSX closes lower mainly due to fears of agricultural losses from flooding and the central bank’s cautious growth outlook. He added that high leverage levels, rollover pressure, and weakness in global oil markets fueled the bearish mood.
KTrade Securities, in its market wrap, also highlighted that the market extended its consolidation trend. The index slipped 0.10% day-on-day, showing that traders were unwilling to take aggressive positions in such an uncertain climate.
Sector-wise, selling pressure was visible across banking and fertilizer stocks. Heavyweights like Habib Bank, Fauji Fertiliser, Bank Al Habib, Faysal Bank, Systems Limited, and MCB Bank ended as the major laggards, dragging the index further down.
Despite the cautious environment, volumes stayed robust. Total market turnover reached 935 million shares. Pace (Pakistan) dominated activity with 71.5 million shares changing hands, followed by Bank Makramah at 66 million and Pak Elektron at 51.2 million.
On the brighter side, PSX closes lower, but selective buying in key names such as Sazgar Engineering, Lucky Cement, and United Bank provided some cushion, helping restrict further losses.
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