KARACHI: The Pakistan Stock Exchange (PSX) on Wednesday extended its bearish run as nervous investors continued to offload their positions amid worsening geopolitical concerns.
Topline Securities Ltd said the PSX witnessed another volatile trading session, with the benchmark KSE-100 index extending its decline as investor sentiment remained subdued amid escalating geopolitical tensions in the Middle East and a sharp rise in international crude oil prices.
Heightened risk aversion triggered broadbased selling across major sectors, outweighing selective buying interest.The benchmark index settled at 176,042.98, down 1,580.90 points or 0.89 per cent. During the session, the index traded in a volatile range, touching an intraday high of176,935.03 and a low of 175,631.74.
On the negative side, United Bank Ltd, Lucky Cement, Engro Holdings, Hub Power, and Pakistan Petroleum emerged as thelargestdragsonthebenchmark, collectively eroding approximately 669 points.
Investor participation weakened sharply as the total trading volume plunged 40.07pc to 574million shares and the turnover value dipped 38.96pc to Rs25.36 billion.
According to Arif Habib Ltd (AHL), the PSX remained in the consolidation phase with the index eatingfurther into Monday’s 7,241-point re covery rally.
Investor sentiment turneddepressed afterthe US said its forces were targeted by Iran overnight while Washington and Saudi Arabia struck Tehran-backed militias in Iraq, abruptly ending a days-longlullinhostilities.
On the corporate front, Fauji Fertiliser announced a net profit of Rs24.4bn with earnings per share (EPS) at Rs16.93 in 2QCY26, up 39pc quarteron-quarter. Alongside the results, the company announced a dividend of Rs14.50 per share for 2QCY26 (lifting payout to 86pc), up from Rs8.5 last quarter.
Honda Atlas Cars (Pakistan) Ltd announced its financial results for 1QMY27, posting a profit-after-tax of Rs2,486 million (EPS: Rs17.41), up three times year-on-year from Rs828m (EPS: Rs5.80) in 1QMY26, and 2.5 times quarter-onquarter from Rs1,008m (EPS: R7.06) in 4QMY26.