PSX stays bearish as uncertainty persists

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KARACHI: The Pakistan Stock Exchange (PSX) on Thursday continued its slide for the third straight session, as jittery investors sold their positions amid economic uncertainty stemming from the escalating situation in the Middle East, dragging the benchmark KSE-100 index below 175,000 points in intraday trade.

Topline Securities Ltd said the PSX remained under pressure throughout the session as investor sentiment weakened following fresh US-Iran attacks, reigniting geopolitical tensions and pushing international crude oil prices higher.

The index plunged to an intraday low of 1,430 points at 174,612.15 before recovering some of its losses to settle at 175,547, down 495 points or 0.28 per cent.

The surge in global oil prices heightened concerns about inflationary pressures and their potential impact on the broader economy, prompting investors to adopt a cautious stance.

Although the market partially recouped intraday losses, persistent uncertainty over the geopolitical situation kept buying interest subdued.

On the index contribution front, Engro Holdings, Lucky Cement, Systems Ltd, Hub Power, and Pakistan Petroleum were the major laggards, collectively eroding approximately 547 points.

Amid persistent bearishness, investor participation rose 23.88pc from the previous session to 711 million shares, while traded value stood at Rs25.3 billion. Trust Brokerage topped the volume chart with nearly 143 million shares.

Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said the PSX stayed range-bound as investor sentiment remained cautious throughout the session, with market participants awaiting further progress on the geopolitical front. According to media reports, negotiations between the US and Iran to restore regional stability, particularly around the Strait of Hormuz, remain ongoing, keeping investors on the sidelines.

On the corporate front, Engro Fertiliser reported a 2QCY26 profit-after-tax (PAT) of Rs3.8bn, with earnings per share (EPS) of Rs2.85, down 32pc year-on-year, reflecting weaker fertiliser offtake.

The company declared a cash dividend of Rs1.75 per share, compared with Rs4.25 in the same period last year, indicating a more cautious capital allocation approach.

Meanwhile, Bank Alfalah Ltd reported 2QCY26 PAT of Rs10bn (EPS: Rs3.22), bringing 1HCY26 earnings to Rs21bn, up 40pc year-on-year, and announced an interim cash dividend of Rs1.5 per share.

Published in Dawn, July 31st, 2026

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