PSX today: KSE-100 falls 1,549 points to 162,375 as Brent hits a five-month high

PSX today: the KSE-100 index closed at 162,374.88 on Friday, 23 October, down 1,549.44 points or 0.95% from Thursday's 163,924.32, ARY News reported from exchange data. It was the second heavy fall in two sessions: the index lost 2,007 points on Thursday, so the week ended about 3,550 points lower in just two days.

The numbers

The index opened near Thursday's close, briefly touched 163,966, then slid for most of the day and finished only about 80 points above its low. More than twice as many shares fell as rose, and volume was higher than Thursday's 367 million, which points to selling across the board rather than in a few heavyweights. Around Rs 159 billion came off the market's value in one session.

Why the market fell: oil

The pressure came from outside. Brent crude rose to $115 a barrel on Friday, its highest since 4 May, and was trading at $114.57 at 4:38pm PKT, up 1.2% on the day and 4.2% on the week, Dawn reported, citing Reuters. Saudi Aramco ordered its Dhahran headquarters evacuated as fighting between Saudi forces and the Houthis intensified. CNBC later reported Brent above $116.

For Pakistan, which imports most of its oil, a higher crude price means a bigger import bill, pressure on the rupee and the risk of higher petrol and diesel prices. In the Senate on Friday, members asked whether petrol would be available in December; the government said there were no supply issues.

What it means for you

• If you hold shares or mutual funds: two days of falls do not change a long-term plan, but expect volatility while the Gulf conflict escalates.
• Fuel: PSO's ex-depot price now moves most days. Track the daily PSO ex-depot price on our petrol price page and work out your monthly bill with the fuel cost calculator.
• The rupee: the interbank dollar was steady at about Rs 276.82. See the dollar rate page.

The full KSE-100 history, updated through the day, is on our KSE-100 data page. Capital gains on shares are taxed; estimate yours with the capital gains tax calculator.