Overview
- The KSE-100 extended losses on Wednesday, settling at 176,846.36 after a late-session sell-off that erased earlier gains and reduced market capitalisation.
- A sharp fall on Tuesday of about 2,546.94 points set the sequence of moves that continued into Wednesday and left market breadth broadly negative across most sectors.
- Investors cited higher global crude oil prices and heightened uncertainty over shipping through the Strait of Hormuz as the main external drivers that pushed energy-sensitive stocks lower.
- Reports that the prime minister asked the petroleum minister to meet local refineries weighed particularly on refinery and oil-sector names, while large-cap banks and fertiliser firms also erased substantial index points.
- Trading remained active but concentrated, with Cnergyico PK leading volumes, and the State Bank’s July report showing a narrower current account deficit did not reverse the risk-averse mood; energy import dependence means oil and shipping shocks can quickly raise fuel costs and fiscal pressure.