Thursday proved a bruising day for investors at the Pakistan Stock Exchange. According to The Express Tribune, tense news from the Middle East and a jump in global oil prices soured the mood, and the benchmark KSE-100 index closed 2,007 points, or 1.21 percent, lower at 163,924.32, slipping below the psychologically important 164,000 mark.
Oil, Houthi attacks and the import bill
The paper said oil prices rose during the session after fresh Houthi attacks in Saudi Arabia. Ali Najib, deputy head of trading at Arif Habib Ltd, said the developments raised fears of a wider regional conflict and prolonged disruption to Middle Eastern energy supplies.
Pakistan imports much of its energy, so every rise in crude prices feeds directly into a larger import bill and more pressure on the external account. That concern dominated trading decisions on Thursday.
Biggest drags on the index
Engro Holdings, UBL, Hub Power, HBL, PTC, Lucky Cement, FFC, Attock Refinery, National Bank and PPL were the main laggards, together pulling the index down by 1,151 points.
Despite the sell-off, activity picked up. Some 364.3 million shares changed hands with a total turnover of Rs17.9 billion. Pakistan Refinery led volumes with 25.8 million shares traded.
A bright spot in bank earnings
Major banks announced results for the first nine months of 2026 on the same day. HBL posted earnings per share of Rs36.84 (up 5 percent year on year), Meezan Bank Rs41.02 (up 6 percent) and MCB Rs37.26 (flat). Arif Habib Ltd said earnings and payouts were in line with its expectations.
What next?
Analysts expect volatility to persist while Middle East tensions keep oil prices high, though resilient corporate results and attractive dividends may lend selective support.