KARACHI: The Pakis­tan Stock Exchange on Thursday witnessed another volatile session, pulling the benchmark KSE-100 index below the 169,000 barrier intraday for the second straight negative session.

Investor sentiment remained depressed due to stalled peace talks and the continued blockade of the Strait of Hormuz by the US, along with a retaliatory show of force by Iran, reflecting its grip on the key sea route that carries over one-fifth of global oil supplies. This situation pushed crude oil prices further higher, well above $100 per barrel.

Topline Securities Ltd said the bears returned to centre stage as tensions flared around the strait, where reports of blockades and vessel seizures rattled global sentiment. Meanwhile, Islamabad continued to await talks with Iranian and American officials, keeping uncertainty elevated.

Amid a risk-off mood, the benchmark index plunged to an intraday low of 3,163 points before settling at 169,173.38, down 2,405.93 points, or 1.40pc, as broad-based selling gripped the market.

Key index heavyweights, including Fauji Fertiliser, United Bank, Meezan Bank, Pakistan Petroleum, and Bank Alfalah, remained under sustained pressure, collectively shaving off 942 points from the benchmark.

In a bearish market, trading volume rose 25.37pc to 1.321 billion shares, while traded value fell 17.19pc to Rs30.8bn. First National Equities Ltd led the volume chart, with 286 million shares traded.

Ali Najib, Deputy Head of Trading at Arif Habib Ltd (AHL), said the market remained weak throughout the session as the index faced persistent selling pressure during trading hours.

Amid uncertainty over US-Iran talks in Islamabad, sentiment is expected to remain cautious and fragile, with delays and disagreements likely to keep markets volatile and largely headline-driven in the near term.

Published in Dawn, April 24th, 2026