PSX benchmark index falls amid broad-based selling pressure in Pakistan trade

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PSX benchmark index falls

Highlights

KSE-100 Index drops 862.50 points, or 0.51%, to 169,106.82 by 1:11pm Thursday amid broad-based sector losses on the Pakistan Stock Exchange.
Index-heavy stocks DGKC, HBL, MCB, UBL, NBP, MARI, OGDC, PPL, and PSO trade lower, reversing Wednesday's 368.92-point recovery in the PSX benchmark index.
U.S. inflation rises less than expected in August, reducing the likelihood of a Federal Reserve hike on October 28 to 38% from 50%.

Mid-session decline across key sectors

As reported by Business Recorder, selling pressure intensifies on the Pakistan Stock Exchange after a firm open, pulling the KSE-100 Index down 862.50 points, or 0.51%, to 169,106.82 by 1:11pm on Thursday.

Losses are seen in major sectors including automobile assemblers, cement, commercial banks, oil and gas exploration companies and oil marketing companies. Index-heavy stocks such as DGKC, HBL, MCB, UBL, NBP, MARI, OGDC, PPL and PSO trade in the red.

In a separate domestic development, the Federal Board of Revenue extends the deadline for filing income tax returns for tax year 2026 from September 30 to October 15. The move follows Wednesday's session, when selective buying in commercial banks, cement and fertiliser shares helps the PSX extend its recovery and lift the benchmark index by 368.92 points to 169,969.33.

Regional market mood and rate outlook

Asian stocks remain subdued on Thursday, while global bonds stay under pressure after a weak September as investors assess softer-than-expected U.S. inflation data for August and a reduced likelihood of a Federal Reserve rate increase later this month.

Sentiment in Asia also remains fragile after Micron's earnings fail to lift markets, while stalled U.S.-Iran peace talks in the seven-month war in the Middle East keep oil prices elevated. MSCI's broadest index of Asia-Pacific shares outside Japan is down 0.2%, South Korea's KOSPI eases 0.14%, while Japan's Nikkei rises more than 1% on gains in chip-related shares.

Futures for the Nasdaq and S&P 500 are up 0.3%, but European stock futures fall 0.75% in early trading. Data released on Wednesday show U.S. inflation rises less than expected in August, prompting traders to cut expectations of a Federal Reserve hike on October 28, with CME's FedWatch tool showing a 38% chance, down from 50% a day earlier.

Our earlier coverage on the FBR’s tax-year 2026 return deadline explained that the authority dismissed a widely shared online circular claiming an extension as fake, keeping the September 30 cutoff in place at the time. The piece also noted mounting pressure from business groups citing persistent IRIS portal issues, even as filing volumes rose to about 4.7 million returns versus 3.2 million a year earlier.

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