The Pakistan Stock Exchange (PSX) on Tuesday witnessed a volatile session after gaining over 1% on Monday with the benchmark KSE-100 Index dropping over 1,100 points.
At close, the benchmark index settled at 177,083.22, a decline of 1,116.80 points or 0.63%.
Selling pressure dominated with investors offloading shares in major sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, refineries, and power generation.
Index-heavy stocks such as Hub Power (HUBCO), Mari Energies (MARI), Oil and Gas Development Company (OGDC), Pakistan Petroleum Limited (PPL), and United Bank Limited (UBL) traded in negative territory, weighing on the benchmark index.
The decline came a day after the PSX posted a strong recovery, as easing geopolitical tensions in the Middle East and a sharp fall in international crude oil prices boosted investor sentiment and sparked broad-based buying.
On Monday, the benchmark KSE-100 Index climbed 2,105.91 points, or 1.20%, to close at 178,200.02.
Meanwhile, international oil prices rebounded on Tuesday after suffering steep losses in the previous session, as concerns persisted over potential supply disruptions in the Middle East despite ongoing diplomatic efforts to ease tensions involving the United States and Iran.
Brent crude futures rose $1.12, or 1.3%, to $84.89 per barrel, recovering from a 7% drop that had pushed prices to a three-week low.
US West Texas Intermediate (WTI) crude gained 77 cents, or 1%, to $81.11 per barrel, after falling more than 5% in the previous session to its lowest level in nearly a week.
