The Pakistan Stock Exchange (PSX) on Wednesday witnessed a mixed session, with the benchmark KSE-100 Index gaining over 300 points.
Buying was observed in the early session as stocks gained nearly 2,500 points; however, the market retreated as the day wore on.
At the close, the benchmark index settled at 155,858.47, a decline of 318.65 points, or 0.2%.
Selling was observed after the initial buying spree in key sectors, including automobile assemblers, cement, commercial banks, OMCs, and refineries.
On Tuesday, Pakistan’s equity market mounted a strong rebound as aggressive buying across major sectors enabled the benchmark index to recover a significant portion of the previous session’s losses, signaling renewed investor confidence at the PSX.
The benchmark KSE-100 Index jumped by 9,696.97 points, or 6.62%, to close at 156,177.12.
Meanwhile, oil prices extended their decline on Wednesday after reports that the International Energy Agency may consider the largest release of emergency oil reserves in its history, amid concerns over potential supply disruptions stemming from the U.S.–Israeli conflict with Iran.
Brent crude futures fell 88 cents, or 1%, to $86.92 per barrel by 0451 GMT, while U.S. West Texas Intermediate (WTI) crude slipped 35 cents, or 0.4%, to $83.10 a barrel.
