PSX Extends Losses As KSE-100 Drops Nearly 700 Points.
✧ GENERATE BRIEFING +
Selling pressure intensified at the Pakistan Stock Exchange (PSX) on Wednesday, driving the benchmark KSE-100 Index down by 698.57 points (0.40%) to settle at 171,943.59. Despite an early morning attempt at recovery that pushed the index to an intraday high of 173,174.18, pervasive caution took hold as escalating geopolitical conflicts in the Middle East rattled regional and global markets. The session's low touched 171,801.66, compounding losses from the previous session when the index shed 993.92 points amid widespread profit-taking.Investor sentiment remained heavily suppressed by expanding regional hostilities, including reported attacks on Saudi infrastructure, U.S. actions targeting Iranian oil tankers, and retaliatory strikes. This friction propelled international energy benchmarks sharply higher, with Brent crude surging $1.57 to $99.49 per barrel—hovering dangerously close to the key $100 psychological threshold—while WTI gained $1.60 to reach $94.63.
Selling pressure persisted at the Pakistan Stock Exchange (PSX) on Wednesday as escalating Middle East tensions and rising crude prices kept investors cautious, pushing the benchmark KSE-100 Index down nearly 700 points.
The KSE-100 opened around the 173,000 level and initially climbed to an intraday high of 173,174.18 points. The early recovery, however, failed to hold as selling emerged across the market.
The index later slipped towards 172,000 points and touched an intraday low of 171,801.66 before ending at 171,943.59 points, down 698.57 points, or 0.40%.
The decline extended the previous session’s losses. On Tuesday, the KSE-100 had fallen 993.92 points, or 0.57%, to 172,642.16 as investors booked profits amid heightened geopolitical uncertainty and elevated crude prices.
Investor sentiment remained under pressure as the Middle East conflict intensified. Iranian-backed Houthi forces launched attacks on Saudi cities, while US forces targeted Iranian oil tankers and Iran struck a US military base in Jordan.
The renewed geopolitical risk also pushed international oil prices higher. Brent crude rose $1.57 to $99.49 per barrel during the session, approaching the psychologically important $100 mark, while WTI gained $1.60 to $94.63.
The pressure on regional equities was mixed, with Hong Kong’s Hang Seng falling 0.6% while Japan’s Nikkei gained 0.6% and South Korea’s KOSPI rose 1.6%. The broader global market remained sensitive to oil prices and the inflation implications of the escalating conflict.
