PSX Plummets Over 1,350 Points on Geopolitical Tensions

KARACHI: The Pakistan Stock Exchange (PSX) observed yet another volatile trading session on Wednesday, as the benchmark KSE-100 Index closed at 155,777, shedding 1,350 points amid geopolitical tensions.

In early trade on Wednesday, the index briefly slipped more than 2,300 points around 9:20am, touching an intraday low of 154,790.73 before regaining ground by 10:30am, trading 381.98 points higher.

This volatility suggests that investor confidence still remains cautious, following a turbulent start to the week.

"PSX witnessed a directionless session," said Ali Najib, Deputy Head of Trading at Arif Habib Ltd.

The KSE-100 Index settled at 155,777 points, down 1,355 points, as persistent volatility kept investors cautious, noted Topline Securities. The benchmark moved within a broad range of 157,962 to 154,790 points during the session, reflecting nervous participation and intraday swings.

Overall sentiment remained fragile amid escalating geopolitical tensions, which dampened global risk appetite. Regional Asian markets largely traded in the red, and the local bourse followed the same negative trajectory, mirroring the broader risk-off environment.

On the other hand, the Exploration & Production (E&P) sector outperformed the broader market, as international oil prices moved higher in response to the ongoing conflict, lending support to energy stocks.

Index-heavy constituents—including ENGROH, UBL, NBP, HBL, and LUCK—emerged as key laggards, collectively dragging the index down by 891 points during the session.

Market participation with a total traded volume of 622 million shares and a turnover standing at Rs 30 billion. Unity dominated the volume leaders’ board, with over 117 million shares.