PSX drops over 1,000 points
The Pakistan Stock Exchange (PSX) remained under pressure on Thursday as the benchmark KSE-100 Index fell by more than 1,000 points during intraday trading, reflecting cautious investor sentiment amid rising geopolitical tensions and uncertainty in global financial markets.
By late morning, the KSE-100 Index had dropped to around 174,994 points, losing over 1,049 points, or approximately 0.6%, from the previous session.
Selling pressure was witnessed across several major sectors, including automobile assemblers, cement, fertiliser, oil and gas exploration, oil marketing companies, power generation and refineries. Heavyweight stocks also traded in negative territory, contributing to the market’s decline.
The latest downturn follows a sharp fall in the previous trading session, when the benchmark index lost nearly 1,581 points. Analysts attributed the continued weakness to escalating tensions in the Middle East, which have fuelled concerns over global economic stability and pushed international oil prices higher.
Global market uncertainty also weighed on investor confidence. Asian stock markets showed mixed performance as investors assessed the US Federal Reserve’s decision to keep interest rates unchanged. The central bank’s policy stance left markets uncertain about the future direction of interest rates, while rising US Treasury yields added to concerns.
Meanwhile, international oil prices remained volatile. Brent crude slipped below $90 per barrel after surging sharply a day earlier as conflict in the Middle East intensified. Despite the heightened tensions, reports indicated that commercial shipping through the region continued.
Regional equity markets also experienced fluctuations, with technology shares remaining under pressure following recent losses linked to concerns over heavy investment in artificial intelligence and slowing returns.
