Overview
- Profit-taking pushed the KSE-100 down about 1.36 percent to 178,922.76 on heavy turnover, reversing part of a recent rally that had lifted the index earlier in the week.
- Reports that Iran declined to send a delegation to Switzerland after renewed hostilities in southern Lebanon removed a key de-risking catalyst and triggered the sell-off.
- Trading remained active with roughly 1.05 billion shares changing hands, market capitalisation falling to about Rs19.99 trillion, and market breadth decisively negative.
- Major blue chips including United Bank, Fauji Fertiliser and Engro were the biggest drags while Pakistan State Oil and gas distributors provided limited support; foreign investors were net sellers of about Rs323 million.
- Officials advanced the privatisation agenda with the Privatisation Commission approving a FESCO restructuring plan, and analysts say macro improvements and reform steps offer underlying support even as Middle East developments will drive near-term sentiment.