PSX slides towards 162,000 amid ME war

The largest positive contribution came from Fauji Fertiliser Company, Pakistan Services and Askari Bank, whereas the heaviest drags were Meezan Bank, Engro Holdings and Lucky Cement.

A brief note, in the AHL report, highlighted Pakistan's position in critical minerals given its deposits of copper, gold, chromite and other resources, while the technical commentary pointed to potential downside towards 160,000 with resistance near 166,000.

The KSE-100 closed at 162,375 after oscillating between the intra-day range of 162,292 and 163,967, it said.Topline's market review said that the KSE-100 index extended its bearish trend, declining by 0.95% to close at 162,375 points, amid escalating tensions between the US and Iran and a further rise in international crude oil prices.

In terms of traded value, Pakistan Petroleum (Rs723 million), Thatta Cement (Rs699 million), Hub Power (Rs547 million), Maple Leaf Cement (Rs504 million) and NBP (Rs473 million) dominated the day's activity.The top negative contribution to the index came from Meezan Bank, Engro Holdings, Lucky Cement, Hubco and Pakistan Petroleum, as they cumulatively erased 637 points.

Traded volume and value for the day stood at 399 million shares and Rs18 billion, respectively.

Topline further said that the KSE-100 index declined 2.43% week-on-week amid geopolitical tensions, rising oil prices and profit-taking ahead of the SBP's monetary policy decision.Overall trading volumes were recorded at 398.94 million shares compared with the previous session's tally of 367.09 million.

The value of shares traded during the day was Rs18.20 billion.

In the ready market, shares of 495 companies were traded.

Of these, 136 stocks closed higher, 311 fell and 48 remained unchanged.Pervez Ahmed Consultancy Services was the volume leader with trading in 32.67 million shares, gaining Rs0.31 to close at Rs3.33.

It was followed by Macpac Films with 26.69 million shares, losing Rs6.58 to close at Rs59.25 and Pakistan Refinery with 23.50 million shares, losing Rs0.60 to close at Rs94.52.

Foreign investors sold shares worth Rs416.6 million, the National Clearing Company reported.

PSX slides towards 162,000 amid ME war Our Correspondent | Updated 14 minutes ago | KSE-100 index sheds 1,549 points as US-Iran tensions escalate.