PSX: Regional tensions push KSE-100 into red
Negative sentiment was observed at the Pakistan Stock Exchange (PSX) on Tuesday amid heightened tensions as a deal to end the Middle East war seemed further out of sight, with the benchmark KSE-100 Index shedding 500 points during the opening minutes of trading. At 9:50am, the benchmark index was hovering at 179,958.56, down by 543.88 points or 0.30%. Selling was observed in key sectors,…
The Pakistan Stock Exchange (PSX) experienced a decline on Tuesday as regional tensions persisted and a Middle East peace deal appeared increasingly unlikely. The benchmark KSE-100 Index dropped 543.88 points, or 0.30%, within the first 50 minutes of trading, trading at 179,958.56 at 9:50am. Key sectors such as automotive, cement, commercial banks, oil and gas, oil marketers, and power generation witnessed significant selling pressure.
Notable index constituents like HUBCO, MARI, OGDC, PPL, POL, MCB, MEBL, NBP, and UBL posted losses. On Monday, the PSX had gained ground following a robust rally in refinery stocks due to news of a major modernization and expansion program. The index closed at 180,502.45 points for the day. The broader regional markets faced headwinds from increasing oil prices and rising bond yields, dampening stock performance.
Meanwhile, U.S. economic data and geopolitical developments, including the expiration of a US-Iran truce, further weighed on investor sentiment.
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