KARACHI: Panic-stricken investors continued to unload their positions as the Gulf war kept fuelling apprehensions about the energy supply scenario, stoking fears of an upsurge in inflationary pressures, especially in Pakistan, which is reliant on imports via the Strait of Hormuz. Consequently, the Pakistan Stock Exchange (PSX) on Thursday extended the bearish trend, dragging the benchmark KSE-100 index below the 172,000-point level.

Topline Securities Ltd said the bears remained firmly in control of the PSX as intensifying geopolitical tensions between the US and Iran continued to weigh on investor sentiment. Heightened uncertainty fuelled a sharp rally in global energy markets, raising concerns about inf­la­­tionary pressures and the broader economic outlook.

Against this backdrop, the index saw aggressive selling throughout the se­­ssion, plunging to an int­raday low of 2,774 points at 171,655.09 before closing at 171,739.45, down 2,690.48 points or 1.54 per cent.

Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said the PSX recorded another negative session, with investor sentiment under pressure as fresh hostilities between the US and Iran, coupled with Houthi attacks on Saudi oil tankers, intensified concerns about global oil supply disruptions. The escalation pushed international oil prices and global borrowing costs higher, prompting investors to adopt a risk-off stance.

On the corporate front, Air Link Communication Ltd announced plans to establish an EV bike assembly plant at its facility in the Sundar Green Special Economic Zone.

United Bank, Fauji Fertiliser, Engro Holdings, Lucky Cement, Hub Power, Oil and Gas Development Company, Pakistan Petro­leum, Habib Bank, Natio­nal Bank, and Mari Energ­ies collectively erased 1,436 points from the benchmark.

Market activity remai­ned subdued, with trading volume easing 24.57pc to 525.12m shares and turnover value dipping 7.77pc to Rs23.4 billion. Cnergyico PK topped the volume chart with 60.7m shares.

Published in Dawn, July 24th, 2026