KARACHI: The Pakistan Stock Exchange (PSX) resumed trading Monday morning after a brief suspension, but the mood remained grim as benchmark indices extended their slide amid global oil market turbulence and uncertainty over Iran–US talks.
By 9:40am, volumes had surged to 91.5 million shares with a traded value of Rs4.06 billion across 40,739 transactions. Yet the breadth of the market was negative: 274 symbols declined against just 83 gainers, while 208 remained unchanged out of 565 listed.
The KSE‑100 index dropped 1,842 points, or 1.07 per cent, to 172,096. The All‑Share index shed 1,023 points, while the KSE‑30 fell 534 points. The KMI‑30 index, tracking Shariah‑compliant stocks, lost 2,520 points, down 1.02pc. The banking sector index also slipped 411 points, reflecting broad‑based weakness.
The downturn coincided with renewed geopolitical jitters after the US Navy seized an Iranian‑flagged oil tanker near the Strait of Hormuz, escalating tensions and sending crude prices higher. Conflicting reports about whether Tehran and Washington will resume talks added to the uncertainty, leaving investors wary of further shocks.
Market participants said the spike in oil prices could translate into higher import costs and inflationary pressures for Pakistan, compounding fiscal challenges. “The sell‑off is not about corporate earnings — it’s about external risk and the fear that energy costs will spiral,” a dealer remarked.
Market analysts cautioned that unless clarity emerges on Gulf tensions, the PSX may remain volatile through the week, with investors likely to stay defensive until global markets stabilize.
