The Pakistan Stock Exchange (PSX) extended its downward trend on Thursday as the benchmark KSE-100 Index fell by 736 points, or 0.45%, closing at 164,531 amid persistent institutional selling. Despite strong remittance inflows and positive economic cues, investors remained cautious as the market faced heavy volatility and struggled to sustain intraday recoveries.
Throughout the session, the benchmark index witnessed sharp swings, hitting an intraday low of 164,307 (-0.58%) and a high of 166,730 (+0.89%). The fluctuation reflected increasing investor uncertainty, with participants choosing to book profits instead of taking new positions. Analysts noted that selling by local institutions and insurance companies further dampened market sentiment, discouraging short-term buying interest.
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On the economic front, optimism came as Pakistan recorded an 8% year-on-year rise in remittances, reaching $9.6 billion in the first quarter of FY26. In September alone, inflows touched $3.18 billion, marking an 11% yearly increase and a 1.45% monthly gain. However, the International Monetary Fund’s ongoing discussions with Pakistani authorities ahead of the next loan tranche failed to significantly uplift investor confidence.
Sector-wise, mixed performance shaped the day’s trend. MCB, Lucky Cement, Engro Holdings, Pak Services, and PSO collectively added 419 points to the index. In contrast, heavyweight stocks like HBL, UBL, NBP, Systems Ltd, and BAFL dragged the benchmark down by 641 points. Market analysts observed that despite selective buying in blue-chip counters, selling pressure dominated most sectors.
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Trading activity remained robust, with volumes reaching 1.57 billion shares and total traded value standing at Rs50.4 billion. K-Electric topped the volume chart with 278.9 million shares, maintaining strong investor interest. Analysts suggested that the market’s breach below the 165,000–170,000 consolidation band may indicate a possible shift in momentum, warning that continued weakness could trigger a deeper correction if sentiment fails to recover soon.