KARACHI
\nThe Pakistan Stock Exchange (PSX) reversed its early gains on Thursday as rising oil prices and persistent inflation concerns weighed on investor sentiment, while uncertainty over renewed US-Iran diplomatic efforts added to the cautious mood.
\nThe benchmark KSE-100 Index fell 1,332.47 points, or 0.78%, to settle at 168,636.85. The index touched an intraday high of 170,688.38 and a low of 168,567.79.
\nMeanwhile, oil prices rose around 2% during the session after China suspended oil product exports, tightening global fuel markets already facing supply constraints, while investors continued to assess diplomatic efforts to end the US-Iran war. On the domestic front, Pakistan\u2019s inflation slowed to 10.26% in September from 11.1% in August primarily led by food prices, but remained above the State Bank\u2019s medium-term target range.
\nThe market had opened on a positive note, with the KSE-100 reaching 170,270.16, up 300.84 points, or 0.18%, at 10:15am, before losing ground as the session progressed.
\nMuhammad Awais Ashraf of AKD Securities assessed that easing inflationary pressures amid strong external account position, along with a reduction in domestic political noise would strengthen investor confidence.
\nAny positive development on US-Iran war would serve as a key positive trigger, while the normalisation of trade flows from GCC would reduce severity of the ongoing crisis. \u201cWe advise investors to remain in banks, Exploration &Productions, fertiliser, textile, OMCs, technology, steel and automobile sectors. Within these, E&Ps and OMCs are positioned to benefit from resolution of gas sector circular debt,\u201d Ashraf wrote. Cumulatively, trading volume stood at 548.3 million shares, down from 591.2 million on Wednesday.
\nIn the ready market, 121 companies advanced, 323 declined and 48 remained unchanged. Kohinoor Spining was the volume leader with trading in 93.8million shares, rising Rs0.11 to close at Rs5.84<\/p>\n","protected":false},"excerpt":{"rendered":"
KARACHI The Pakistan Stock Exchange (PSX) reversed its early gains on Thursday as rising oil prices and persistent inflation concerns weighed on investor sentiment, while uncertainty over renewed US-Iran diplomatic efforts added to the cautious mood. The benchmark KSE-100 Index fell 1,332.47 points, or 0.78%, to settle at 168,636.85. The index touched an intraday high …<\/p>\n","protected":false},"author":4,"featured_media":78403,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-103775","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/103775","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=103775"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/103775\/revisions"}],"predecessor-version":[{"id":103806,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/103775\/revisions\/103806"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/78403"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=103775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=103775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=103775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}