PSX Sinks as US-Iran Uncertainty and Oil Prices Weigh on Investor Sentiment
The Pakistan Stock Exchange (PSX) ended Tuesday's trading session in the red, with the benchmark KSE-100 index falling 825.22 points or 0.48% due to concerns over prolonged Middle East tensions and elevated oil prices.
The index had initially gained 324.35 points or 0.19% to reach an intraday high of 170,944.35, but broad-based selling pressure eventually erased its early gains.
Diplomatic efforts between the US and Iran continued without a breakthrough, while oil prices remained elevated due to uncertainty over Middle Eastern supplies.
The domestic economic backdrop also remained in focus as Pakistan and the International Monetary Fund (IMF) formally kicked off talks for the fourth review of the $7 billion Extended Fund Facility and the third review under the Resilience and Sustainability Facility.