PSX in freefall, plunges over 6,680 points on US-Iran fears

KSE-100 tumbles around 4% to closes at 172,170 after volatile session

KARACHI:

The Pakistan Stock Exchange (PSX) experienced a sharp reversal on Thursday, as the benchmark KSE-100 Index plummeted over 6,680 points, or approximately 4%.

The PSX came under intense selling pressure today, with the KSE-100 Index plunging 6,683 points (-3.74%) to close at 172,170. The sharp decline erased the gains from the previous session’s rebound and reinforced the fragile undertone prevailing in the market.

"Investor sentiment deteriorated markedly amid escalating geopolitical tensions between the United States and Iran, as renewed hostilities heightened global uncertainty," said Ali Najib, Deputy Head of Trading at Arif Habib Ltd. 

International oil prices have surged over 6% in the past two days, a development particularly negative for Pakistan given its status as a net oil-importing economy. The spike in crude prices amplified macroeconomic concerns, adding further strain to already weak market confidence.

On the corporate front, FABL reported CY25 earnings of Rs22.5bn (EPS: PKR 14.80), reflecting a 6% YoY decline. Quarterly earnings stood at PKR 6.5bn, up 83% YoY and 17% QoQ. The bank announced a cash dividend of Rs2 per share, bringing the total CY25 payout to Rs6.5 per share.

FFC, ENGROH, UBL, OGDC, PPL, MEBL, LUCK, MCB, HUBC, and SYS bore the brunt of likely institutional selling, collectively dragging the index down by 3,037 points.

Despite the pronounced correction, trading activity remained relatively active, with volumes of 539.9 million shares and turnover of Rs27.3 billion. WTL led the volumes chart with 84.1 million shares traded.

KSE100 index could not save 173k level today amid persistent selling pressure, signaling further weakening in near-term sentiment.

Looking ahead, the 172–170k range is expected to act as a critical support zone, while 180k has now emerged as the immediate resistance level for any meaningful recovery attempt.