Stocks at the bourse slipped on Thursday as renewed jitters over the Middle East peace track weighed on sentiment, after Iran’s stance raised doubts about an early de-escalation.

The Pakistan Stock Exchange’s benchmark KSE-100 Index traded between a high of 157,591.23, down 722.21 points, or 0.47%, and a low of 156,251.57, down 2,061.87 points, or 1.3%, compared to the previous close of 158,313.44.

“It’s the negative sentiment that the peace proposal is rejected by Iran, signalling continued hostility,” said AAH Soomro, an independent investment and economic analyst.

“It’s a pure sentiment-driven market thus far. Economy is edgy but nudging forward,” he added.

Oil prices steadied this week as investors still held out hope for a deal, with Brent just above $100 and WTI around $90, though the virtual closure of the Strait of Hormuz, through which around 20% of global oil and gas passes, continued to cast a shadow over markets.

Asian equities were mixed after a two-day rally, with Tokyo, Hong Kong, Shanghai, Seoul, Manila and Jakarta lower, while Singapore, Wellington and Taipei rose and Sydney was flat.

Markets had found support since late Monday after US President Donald Trump backed away from a threat to destroy Iran’s energy infrastructure and said the two sides were in peace talks. Washington has presented a 15-point plan to end the war, while Iran’s state-run television reported officials had put forward five conditions for hostilities to end.

Trump on Wednesday threatened to “unleash hell” if Iran did not strike a deal, though he also said Iran was taking part in peace talks, while Foreign Minister Abbas Araghchi said Iran did not intend to negotiate.

In the previous session on Wednesday, the KSE-100 surged 4,347.08 points, or 2.82%, to close at 158,313.44 from 153,966.36. The index touched an intraday high of 158,586.09 and a low of 155,199.71.

Light rain was reported in several parts of Karachi Thursday morning, offering some respite from the prevailing warm conditions in the city, a day after the Sindh Provincial Disaster Management Authority (PDMA) issued an alert for the upcoming wet spell. 

Drizzle was recorded in central areas including Saddar, Clifton, MA Jinnah Road and the Old City Area. The rainfall later spread to northern neighbourhoods such as North Karachi, New Karachi and Surjani Town.

Before the showers, gale-force winds lashed the port city. 

While the showers were light, they brought a noticeable change in the weather, with cooler winds accompanying the rain in some localities.

There were no immediate reports of disruption, though intermittent rainfall is expected to continue in parts of the city.

The Pakistan Meteorological Department (PMD) has forecast cloudy weather in Karachi over the next 24 hours, with chances of rain and drizzle in parts of the city.

According to the Met Office, some areas in the port city may receive rain or drizzle accompanied by strong winds and thunderstorms during the day today (Thursday). The department said the city’s maximum temperature is expected to remain around 32 degrees Celsius.

The minimum temperature was recorded at 24 degrees Celsius during the last 24 hours, while the humidity level stood at 79%. Meanwhile, winds are currently blowing from the north-west at a speed of 11 kilometres per hour.

The latest forecast comes as weather conditions in the port city remain unsettled under the prevailing system affecting parts of Sindh.

Earlier this week, the PMD predicted the wet spell, saying the port city, along with Thatta, Badin, Hyderabad, Sukkur, Dadu, Kashmore, Jacobabad, and Larkana, are expected to receive rain and thunderstorms on March 25, 26, 28, and 29. 

In the wake of the rain forecast, Sindh Provincial Disaster Management Authority (PDMA) instructed its staff to remain on high alert with all necessary machinery ready.

As per the alert, strong winds and hail may damage weak structures and solar panels, while temperatures are expected to drop.

Residents have been advised to avoid unnecessary travel. Tourists and travellers are urged to take precautions, and farmers are advised to protect crops in advance.

The rain alert was issued in compliance with the orders of Sindh Chief Secretary Asif Haider Shah, who chaired a meeting in connection with the weather forecast. 

During the meeting, he directed all commissioners, deputy commissioners, and assistant commissioners to remain in the field for the next seven days.

He instructed the district administrations and local bodies to be fully mobilised.

Authorities have been ordered to ensure machinery for water drainage is available and operational, maintain traffic flow, and remove hazardous billboards.

Public awareness campaigns and all precautionary measures are to be completed ahead of the predicted weather events.

Meta reveals a sweeping series of AI-driven commerce updates at Shoptalk 2026 on Tuesday, March 24, alongside a new company-wide initiative focusing on boosting AI adoption among small businesses.

The social media giant announces new features, including AI-supported product discovery features across Facebook and Instagram that generate summarised user reviews, brand insights, and product recommendations when users interact with ads or retailer links.

The experience also includes AI recommendations where users will be able to interact with ads or retailer links. 

The experience involved AI-generated summaries of customer feedback alongside pricing insights and purchasing options.

Additionally, Meta rolls out an updated built-in checkout flow developed in association with Stripe and PayPal. 

This will enable merchants to handle fulfillment directly. The company also plans to integrate Adyen and Shopify and extend affiliate programs with Amazon, eBay, Temu, Mercado Libre, and Shopee.

Simultaneously, Meta also announced Meta Small Business, a company-wide initiative aimed at fostering entrepreneurship and AI usage. 

Mark Zuckerberg, CEO of Meta, announced this, noting that small businesses are at the heart of Meta’s ecosystem, and Dina Powell McCormick and Naomi Gleit, who are both senior executives, will lead this initiative.