Pakistan Stock Exchange Dives Amid Global Oil Price Surge
The Pakistan Stock Exchange (PSX) saw significant losses this week due to escalating global crude oil prices and renewed geopolitical instability in the Middle East. The benchmark KSE-100 Index dropped 2.75% from last week's close, closing at 170,512 points.
The market remained under pressure throughout the week, with the index declining on Monday by 1,693 points (-0.97%) and Tuesday by as much as 2,145 points intraday before recovering some of its losses to close at 172,642, down 993 points (-0.57%).
The PSX witnessed another negative session on Wednesday, with the KSE-100 Index declining 699 points (-0.40%) to close at the 171,944 level.
On Thursday, the market declined again by 3,079 points (-1.79%) to close at 168,865 before rebounding slightly on Friday after reports of talks between Gulf nations and Iran eased crude prices, lifting the index 0.98% to its final close at 170,512.