Selling pressure returned to the Pakistan Stock Exchange (PSX) on Wednesday, with the benchmark KSE-100 Index falling nearly 550 points during early trading before recovering to end the session slightly higher.
At close, the KSE-100 Index had gained 118.05 points, or 0.07%, to settle at 180,511.02.
Pressure was seen across several major sectors, including cement, chemicals, fertilisers, oil and gas exploration, oil marketing companies (OMCs), and power generation. Among the heavyweight stocks, UBL, PAEL, and KML remained in negative territory.
The modest advance came a day after the PSX extended its record-breaking rally. On Tuesday, investor optimism remained strong following the State Bank of Pakistan’s decision to leave the policy rate unchanged.
Improved regional stability and expectations of softer global oil prices also boosted sentiment, helping the benchmark index surge 3,353.15 points, or 1.89%, to close at an all-time high of 180,392.98.
Meanwhile, international oil prices edged higher on Wednesday, recovering some of the losses recorded in the previous session. Investors continued to monitor developments surrounding the Iran conflict and the potential reopening of the Strait of Hormuz, a key global oil shipping route.
Brent crude rose 0.6% to $79.43 per barrel, while US West Texas Intermediate (WTI) gained 0.6% to $76.53 per barrel.
