The Pakistan Stock Exchange (PSX) staged a modest recovery on Thursday after a morning sell-off sent the benchmark KSE-100 Index down by more than 1,500 points amid geopolitical tensions in the Middle East.
At close, the benchmark index settled at 181,259.67, a decline of 369.69 points or 0.2%.
Selling pressure was witnessed across key sectors, including oil and gas exploration companies, oil marketing companies (OMCs), power generation, and refineries.
On Thursday, the Pakistan Stock Exchange (PSX) recorded one of its sharpest single-day declines as heightened geopolitical tensions in the Middle East triggered widespread panic selling. Investors moved to cut their market exposure following fresh US strikes on Iran and growing fears of a wider regional conflict, which sent global oil prices significantly higher.
The benchmark KSE-100 Index fell by 4,626.18 points, or 2.48%, to settle at 181,629.37 points.
Meanwhile, oil prices climbed on Thursday after the United States launched fresh strikes on Iran, weakening hopes for a resolution to the conflict and the full reopening of the Strait of Hormuz, a vital shipping route that carried around one-fifth of global oil supplies before the war.
Brent crude futures gained 78 cents, or 1%, to $78.80 a barrel by 0054 GMT, while U.S. West Texas Intermediate (WTI) crude rose 74 cents, or 1.01%, to $74.26 a barrel.
