PSX tumbles 1,340 points as global sell-off, oil surge hit sentiment

KSE-100 drops to 176,284 amid Asian market losses, Middle East tensions

KARACHI:

The Pakistan Stock Exchange (PSX) extended its losses on Wednesday, with the benchmark KSE-100 Index falling 1,339.73 points, or 0.75%, to 176,284.15 at 1:04pm amid weak regional markets and rising oil prices.

The Index had earlier dropped 1,297.67 points, or 0.73%, to 176,326.21 at 9:34am.

The KSE-100 traded between an intraday high of 176,935.03 and a low of 175,631.74. Trading volume stood at 120.55 million shares, while the traded value was recorded at Rs10.69 billion against the previous close of 177,623.88.

The market's decline came amid a broader sell-off in Asian stocks, with investor concerns over artificial intelligence-related investments weighing on sentiment.

Read: Oil rises as US-Iran tension escalates after Iraq strikes, missile attack

Meanwhile, oil prices jumped following fresh attacks in the Middle East, raising concerns over potential supply disruptions and their impact on global inflation and interest rates.

The renewed geopolitical tensions and pressure on global equity markets kept investors cautious at the PSX, with the benchmark index remaining under selling pressure during the session.

Trading is underway.