KARACHI: The Pakistan Stock Exchange (PSX) extended its decline as jittery investors sold off their holdings, pushing the benchmark KSE-100 index below the 170,000-point mark amid growing economic uncertainty.
Topline Securities Ltd said the index closed at 169,600.41 points, down 825.22 points or 0.48 per cent, after trading between an intraday high of 170,944.35 and a low of 169,538.23. The market remained stable around 170,400-170,600 during the early session; however, late-session selling intensified after 2:00pm, pushing the index below 170,000.
Market sentiment remained cautious and risk-off amid persistent geopolitical uncertainty in the Middle East. Rising crude oil prices, with Brent around $107 per barrel, further pressured sentiment amid concerns over Pakistan’s import bill, inflation, and the external account.
Ali Najib, Deputy Head of Trading at Arif Habib Ltd (AHL), said the PSX breached a key psychological level at 170,000 after a seven-session gap.
Market sentiment remained weak against the backdrop of rising international oil prices, driven by ongoing US-Iran tensions and supply disruption risks in the Strait of Hormuz, which directly affected Pakistan through higher energy import costs and external economic pressure.
Moreover, finance ministry officials are proceeding with key review discussions with the International Monetary Fund under its $7 billion Extended Fund Facility and $1.4bn Resilience and Sustainability Facility to stabilise the domestic economy.
On the corporate front, Air Link Communication Ltd reported an FY26 net profit of Rs6,226 million, up 31pc year-on-year, propelled by strong gross margins and tax reversals. The 4QFY26 profit rose 36pc YoY to Rs2,579m (earnings per share of Rs6.53). Despite skipping its 4QFY26 payout, the company brought total FY26 dividends to Rs2 per share, representing a 12.7pc payout ratio.
United Bank, Fauji Fertiliser, Pakistan Petroleum, Habib Bank, Mari Energies, Engro Holdings, Pakistan State Oil, Systems Ltd, Pakistan Services Ltd, and Bank Alfalah collectively eroded 556 points from the benchmark.
Investor participation improved as trading volume surged 34.92pc to 568 million shares and turnover rose 19.34pc to Rs20.7 billion. Cnergyico PK led the volume chart with 56.5m shares.
Analysts believe elevated energy prices, external sector risks and the ongoing IMF review will remain key drivers of market direction.
Published in Dawn, September 30th, 2026
