PSX falls below 164,000 on oil fears

Only 11 shares rose while 89 declined.

Unilever Pakistan Foods (+3.99%), Thatta Cement (+2.9%) and Standard Chartered Bank (+1.19%) provided the largest positive contribution to the index, whereas Engro Holdings (-2.29%), UBL (-1.39%) and HBL (-2.32%) were the heaviest drags.Key banks reported results for nine months of calendar year 2026 that were broadly in line with expectations.

HBL posted earnings per share (EPS) of Rs36.84 (up 5% year-on-year) and a dividend per share of Rs18; Meezan Bank reported EPS of Rs41.02 (up 6% year-on-year) and dividend of Rs23.5 and MCB recorded EPS of Rs37.26 (flat year-on-year) with dividend of Rs27.In a key geopolitical development, Turkiye, Qatar, Pakistan and Indonesia signed an agreement in Doha to boost defence cooperation and strengthen defence capabilities.

The "Badr MoU" is viewed as a signal of mutual interest in deepening partnerships.

"Market bias remains to the downside below the 167,000-168,000 zone.

Year-to-date, the index is down 5.82%, with week-to-date and month-to-date declines of 1.50% and 3.56%, respectively," AHL said.Total market capitalisation stood at Rs18.17 trillion ($65.6 billion).

Regular-market turnover was 367 million shares valuing at Rs18 billion.

Leading gainers in terms of index contribution included Unilever Pakistan Foods, Thatta Cement and Airlink Communication, while the largest losers were PTCL, Nishat Chunian Power and Power Cement, AHL added.Topline's market review noted that the KSE-100 index witnessed a sharp sell-off, shedding 2,007 points (-1.21%), as escalating geopolitical tensions and rising international oil prices weighed on investor sentiment.

The benchmark initially touched the intra-day high of 249 points before plunging to the low of 2,148 points, reflecting heightened volatility and mounting selling pressure.Persistent geopolitical uncertainty, coupled with concerns over rising oil prices and their potential implications for Pakistan's economic outlook, kept investors on the defensive.

ENGROH, UBL, HUBC, HBL and PTC emerged as the major laggards, collectively dragging the index down by 752 points and amplifying the market's downward momentum, Topline said.Overall trading volumes were recorded at 367.09 million shares compared with the previous session's tally of 379.91 million.

The value of shares traded during the day was Rs18 billion.Shares of 494 companies were traded.

Of these, 101 stocks closed higher, 355 fell and 38 remained unchanged.Pakistan Refinery was the volume leader with trading in 25.88 million shares, losing Rs4.76 to close at Rs95.12.

It was followed by Cnergyico Pk with 23.19 million shares, losing Rs0.17 to close at Rs12.35 and WorldCall Telecom with 22.16 million shares, losing Rs0.03 to close at Rs0.90.