The Pakistan Stock Exchange (PSX) plunged on Monday in a subdued trading environment, as heavy selling pressure weighed on market sentiment, dragging the benchmark KSE-100 Index sharply lower at the opening. The index nosedived 6,600.05 points, or 3.95%, to settle at 160,591.33, as broad-based selling pressure persisted throughout the session.
Earlier in the day, visible fluctuations persisted in the market, with the index dropping 4,567.31 points (-2.73%) to 162,624.06 by 10:29am. During intra-day trading, the index touched a high of 163,612.12 and a low of 160,158.92, reflecting extreme volatility amid heightened uncertainty.
The index came under intense pressure after Islamabad hosted talks between the United States and Iran. As the parties failed to reach an agreement, a sharp surge in global oil prices was witnessed, with crude benchmarks jumping over 7% to exceed $100 per barrel, following United States President Donald Trump’s announcement of a blockade on maritime traffic to and from Iranian ports via the Strait of Hormuz.
Read: PSX surges 11% on Middle East ceasefire
KTrade Securities Equity Trader Ahmed Sheraz told The Express Tribune that the KSE-100 Index opened sharply lower, falling 5,353 points (-3.2%), as investor sentiment turned cautious amid no deal reached in the Islamabad-brokered talks. The lack of immediate clarity and continuation of negotiations weighed on confidence. Meanwhile, escalating uncertainty lifted global oil prices to $104/bbl, adding further pressure on equities.
Market conditions are expected to remain volatile in the near term, driven by evolving geopolitical developments and elevated oil prices, however, the broader outlook remains constructive, as both the US and Iran have indicated their intent to uphold the ceasefire. The next key catalyst will be the second phase of negotiations, with reports suggesting that Qatar and Switzerland have expressed willingness to host the talks, Sheraz observed.
Throughout the session, overall trading volume decreased to 743 million against Friday’s close of 875.5 million. The value of traded shares stood at Rs34.2 billion.
Meanwhile, stocks of 483 companies were traded of which 66 rose, 377 dropped, and 40 remained unchanged. WorldCall Telecom led the volume chart with trading in 176.6 million shares, gaining Rs0.05 to close at Rs1.47.Latest News, Breaking News & Top News Stories | The Express TribuneOur CorrespondentRead More