The Pakistan Stock Exchange's (PSX) benchmark KSE-100 Index lost nearly 251 points (0.53pc) as the market failed to stem losses and continued to decline despite some resistance.

KSE-100 index volumes rose from the day earlier to 82.62 million shares, worth Rs7.31 billion rupees. In all, 164.45m shares were traded on the PSX, with a total worth of Rs9.44bn rupees.

"Stocks closed lower amid thin trade as investors await the Panamagate case decision, [which is] likely to ease political noise," said Arif Habib Corp analyst Ahsan Mehanti.

"Oil stocks supported the index to close above session lows after robust financial results from oil marketing companies," he added. "Concerns over dismal exports, current account deficit, foreign outflows and high circular debt played a catalyst role in the bearish close."

Most activity was seen in chemical stocks, followed by commercial banks, power generation, engineering and technology scrips.

Volumes were led by:

1. Engro Polymer: 17m shares traded (-0.99pc)

2. K-Electric: 15.83m shares traded (+1.52pc)

3. TRG Pak Ltd: 9.15m shares traded (-2.04pc)

4. Bank of Punjab: 8.66m shares traded (0.85pc)

5. Aisha Steel Mill: 8.24m shares traded (-1.40pc)