Summary PSX fell 566 points as Iran-US tensions weighed on sentiment. Asian markets also declined amid global uncertainty, while trading volume and participation remained active
KARACHI (Dunya News/Reuters) – The Pakistan Stock Exchange (PSX) remained under pressure on Thursday as the benchmark index declined amid escalating geopolitical tensions between Iran and the United States.
The market opened in negative territory as the KSE-100 has shed 566.75 points to reach 168,860.69 points, reflecting a change of 0.33 percent compared to previous close of 169,427.44.
A day earlier, the benchmark index turned around to bearish trend, losing 903.12 points, a negative change of 0.53 percent, closing at 169,427.44 points against 170,330.56 points on the last trading day.
During the session, the ready market recorded a trading volume of 791.636 million shares with a traded value of Rs 25.484 billion, compared to 767.453 million shares valuing Rs 27.176 billion in the previous session. The market capitalization declined to Rs 18.848 trillion from Rs 18.908 trillion a day earlier.
Out of 488 active companies in the ready market, 191 advanced, 258 declined and 39 remained unchanged.
Meanwhile, Asian stocks turned lower on Thursday after a tentative early rise, dragged by a Wall Street selloff sparked by a hot U.S. inflation reading and renewed U.S. strikes on Iran that drove oil higher.
MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), opens new tab fell 1%, with Taiwanese shares (.TWII) sliding 1.5% and the Nikkei 225 (.N225), opens new tab down by the same magnitude. S&P 500 e-mini futures rallied from modest declines to trade up 0.2%.
