Pakistan’s stock market closed lower on Thursday, extending losses as geopolitical uncertainty and rising oil prices weighed heavily on investor confidence.

The benchmark KSE-100 Index declined by 1.71 percent, settling at 162,994 points. The downturn followed growing tensions between the United States and Iran, where continued naval pressure around Iranian ports has prolonged the deadlock over Tehran’s nuclear negotiations and kept the Strait of Hormuz under stress — a development that has pushed global crude prices upward.

Major index-heavy stocks drove the decline. United Bank Limited, Pakistan Petroleum Limited, Fauji Fertilizer Company, National Bank of Pakistan, Engro Holdings, and Lucky Cement collectively erased 1,293 points from the index.

In corporate developments, Lucky Cement announced its 3QFY26 financial results, posting earnings per share of Rs. 13.02. While earnings showed a 6 percent improvement compared to last year, profitability declined on a quarterly basis and missed market expectations due to weaker gross margins and lower income from associated companies.

Market participation remained steady despite the negative sentiment, with total traded volume reaching 837 million shares and overall turnover recorded at Rs. 36 billion, reflecting cautious trading as investors tracked global developments and energy market volatility.