The Pakistan Stock Exchange (PSX) erased yesterday’s gains on Wednesday amid uncertainty over the US-Iran talks in Islamabad with the benchmark KSE-100 Index losing over 1,500 points.
At close, the benchmark index settled at 171,579.30, a decrease of 1,576.49 points or 0.91%.
Selling pressure was seen across major sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, power generation, and refineries.
On Tuesday, the Pakistan Stock Exchange experienced a volatile trading session but ultimately closed in positive territory amid cautious investor sentiment.
The benchmark KSE-100 Index showed notable resilience, rising 959 points, or 0.56%, to settle at 173,155.79.
In the global market, oil prices were largely steady on Wednesday after gaining about $1 early in Asian trading, as investors weighed the outlook for US-Iran peace talks following the extension of a ceasefire.
Brent crude edged up 3 cents, or 0.02%, to $98.51 per barrel at 0438 GMT, after earlier touching $99.38. Meanwhile, West Texas Intermediate slipped 13 cents, or 0.14%, to $89.53, having risen to $90.71 at the start of the session.
