PSX sheds over 1,400 points amid US-Iran tensions
Business
PSX extended losses on Tuesday, with the KSE-100 index falling over 1,400 points to 166,258.54, amid rising U.S.-Iran tensions. Oil prices rose, nearing seven-month highs, adding to market uncertainty
KARACHI (Dunya News) – Pakistan Stock Exchange (PSX) extended losses on Tuesday as selling pressure is intensified amid rising tensions between Iran and the US.
The KSE-100 index shed 1,432.54 points to drop to 166,258.54 points, reflecting a dip of 0.85 percent compared to previous close of 167,691.08 points.
Meanwhile, oil prices rose on Tuesday, nearing seven-month highs, with traders assessing geopolitical risks ahead of another round of U.S.-Iran nuclear talks, while U.S. trade policy uncertainty added to broader concerns.
Brent crude futures rose 59 cents, or 0.8%, to $72.08 a barrel by 0424 GMT, while U.S. crude futures climbed 57 cents, or 0.9%, to $66.88 a barrel.
A day earlier, the benchmark KSE-100 witnessed a bearish trend, losing 5,478.63 points, a negative change of 3.16 percent, to close at 167,691.08 points compared to 173,169.71 points on the previous trading day, according to PSX data.
During the session, the ready market recorded a trading volume of 461,264,025 shares with a traded value of Rs 24.935 billion, against 537,645,825 shares valuing Rs 23.790 billion in the previous session. Market capitalization decreased to Rs 18.971 trillion from Rs 19.602 trillion a day earlier.
Out of 479 active companies in the ready market, 42 advanced, 389 declined, and 48 remained unchanged.
