PSX plunges 1,700 points as US-Iran tensions rattle investors
Home Banking, cement and fertiliser stocks lead decline as Brent crude nears $96 per barrel The Pakistan Stock Exchange (PSX) exhibited vulnerability to external shocks on Wednesday with the benchmark KSE-100 Index coming under renewed selling pressure as investors adopted a cautious stance and reduced exposure to equities. The index struggled to sustain its early gains and gradually slipped deeper into negative territory, reflecting weak sentiment across the broader market. The benchmark opened with a marginal positive bias, rising 14.07 points to 176,147.63 at 9:39am. However, the initial strength proved short-lived as selling emerged across key sectors. The index touched an intraday high of 176,255.64 before reversing direction and hitting a low of 174,104.07, eventually settling at 174,429.93, down 1,703.64 points, or 0.97%, from the previous close. “The market remained under pressure as Brent crude hovered near $96 per barrel amid escalating geopolitical tensions in the Middle East. In addition to concerns surrounding the Strait of Hormuz, growing apprehensions over the Bab el-Mandeb corridor further dampened investor sentiment and kept risk appetite subdued,” said Ahmed Sheraz of KASB KTrade.
Published: July 22, 2026 12:03 pm
Source: The Express Tribune — Read original