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) saw a dip into the red on Tuesday, with the KSE-100 Index shedding 500 points during the opening minutes of trading, as regional tensions and the expiration of the US-Iran truce contributed to negative sentiment. Key sectors including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, and power generation experienced selling pressure, with index-heavy stocks trading in the red.
This follows Monday's rebound driven by a rally in refinery stocks, which was triggered by news of a multi-billion refinery modernisation and expansion programme. However, selective profit-taking in other heavyweight stocks limited the overall gain.
Brief written by urgent.news from Business Recorder's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
