The Pakistan Stock Exchange (PSX) witnessed a range-bound trading session on Thursday, with investors adopting a cautious stance amid ongoing geopolitical uncertainties in the Middle East. The benchmark KSE-100 Index fluctuated within a narrow range throughout the day before settling at 170,478.94 points, down 696.56 points or 0.41% from the previous close of 171,175.50 points.
Market participants remained hesitant as limited progress in the ongoing U.S.-Iran peace negotiations failed to provide confidence to investors. Regional tensions continued to dominate sentiment, with clashes persisting despite the fragile ceasefire established in April. Additionally, ongoing hostilities in Lebanon further contributed to uncertainty across financial markets.
Geopolitical Concerns Keep Investors on Edge
Analysts noted that the lack of significant developments in diplomatic efforts between the United States and Iran kept investors cautious. The broader market remained under pressure as traders opted to limit exposure amid fears that escalating regional conflicts could impact global energy markets and economic stability.
The benchmark index touched an intraday high of 172,102.91 points and a low of 170,254.64 points, reflecting the volatile yet range-bound nature of the session.
Select Stocks Provide Support to the Market
Despite the overall decline, several stocks helped limit losses. PSX, JVDC, KTML, MTL, and NPL emerged as the top positive contributors, collectively adding 138 points to the benchmark index.
However, gains were outweighed by losses in heavyweight stocks. UBL, OGDC, PPL, MCB, and MEBL collectively dragged the index down by 476 points, making them the largest negative contributors during the session.
Trading Activity Remains Robust
In terms of traded value, MLCF led the market with transactions worth PKR 1.33 billion, followed by TRG (PKR 1.02 billion), PTC (PKR 992 million), DGKC (PKR 705 million), OGDC (PKR 655 million), and PPL (PKR 635 million).
Overall market activity remained healthy, with total traded volume reaching 726 million shares, while total traded value stood at approximately PKR 27 billion.
Market Outlook
Going forward, investors are expected to closely monitor developments in U.S.-Iran negotiations and regional security conditions. Any improvement in geopolitical stability could help restore confidence and support a recovery in the PSX in upcoming sessions.
