Pakistan's benchmark stock index recorded its steepest one-day fall in months on Tuesday as renewed fighting between the U.S. and Iran unsettled global markets and heightened fears of disruptions to oil supplies through the Strait of Hormuz. The benchmark KSE-100 Index closed down 3.56%.
The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) ended the session down 3.56%.
The decline followed reports that an interim peace arrangement between Washington and Tehran had collapsed. Fresh U.S. airstrikes and reports of Iranian attacks on oil tankers in the Strait of Hormuz intensified fears of a wider regional conflict.
The Strait of Hormuz carries about one-fifth of the world's oil trade. Any prolonged disruption could drive energy prices higher, with significant implications for oil-importing economies, including Pakistan.
Selling pressure persisted throughout the trading session, with banking, cement, fertiliser, oil and gas, investment and power stocks all closing lower.
The KSE-100 reached an intraday high of 178,112.05 before falling to a session low of 173,349.42 near the close.
The decline came as oil prices climbed to a one-month high amid growing concerns that escalating tensions in the Gulf could disrupt global energy supplies.
Despite the sharp decline, investor activity remained strong.
More than 912 million shares changed hands during the session, with the total value of trades reaching about $160 million.
Selling was widespread, with 439 of the 498 listed companies closing lower. Only 40 stocks advanced, while 19 remained unchanged.
Data from the National Clearing Company of Pakistan Limited (NCCPL) showed foreign investors remained net buyers, purchasing shares worth about $2 million.
Pakistan imports much of its oil, making developments in global energy markets closely watched by investors and policymakers.
A sustained increase in oil prices could raise the country's import bill, add pressure on inflation and complicate efforts to strengthen its external finances as Pakistan continues implementing reforms under its International Monetary Fund programme.
Iran and the United States remain at loggerheads over efforts to agree a permanent end to the war in the Gulf, according to a senior Iranian source wh...
Central Asia’s economy has surpassed $543 billion, driven by Kazakhstan’s economic weight, strong exports and foreign investment, while growing tr...
The United Nations refugee agency is planning a settlement and carpet-weaving workshop for Afghan returnees in Kabul as the country grapples with larg...
Iran and the United States remain at loggerheads over efforts to agree a permanent end to the war in the Gulf, according to a senior Iranian source who said there had been no progress in talks to revive the interim deal agreed in June and define a timeframe to implement it.
U.S. President Donald Trump has called for Iran to pay compensation for decades of deaths and damage, adding a new demand to peace talks as Tehran seeks compensation and sanctions relief before reopening the Strait of Hormuz.
Disruption in the Strait of Hormuz has increased the strategic importance of Bab al-Mandab, raising fears that instability in both waterways could trigger a wider global energy and trade crisis.
A criminal court in Damascus has sentenced former Syrian President Bashar al-Assad to death in absentia for premeditated murder, torture, arbitrary detention and crimes against humanity, according to Syria’s state news agency SANA.
Millions of people across Spain and Iceland are preparing on Wednesday to witness a rare total solar eclipse, when the moon will pass directly between Earth and the Sun, briefly turning daylight into darkness along a narrow path.
Central Asia’s economy has surpassed $543 billion, driven by Kazakhstan’s economic weight, strong exports and foreign investment, while growing trade across Asia points to an increasingly connected region.
The United Nations refugee agency is planning a settlement and carpet-weaving workshop for Afghan returnees in Kabul as the country grapples with large-scale returns and growing pressure on housing, jobs and basic services.
Iran will soon join the New Development Bank (NDB), the lender established by BRICS nations, Central Bank Governor Abdolnaser Hemmati said in a state media report on Wednesday ahead of a BRICS finance meeting in India.
Azerbaijan's President Ilham Aliyev has outlined an expanded vision for the Zangezur Corridor, describing it not simply as a transport route connecting mainland Azerbaijan with the Nakhchivan exclave, but as a future platform for energy, telecommunications and wider regional integration.
Iran and Russia are seeking closer cooperation on arms control and Iran’s nuclear programme as the two countries deepen strategic ties amid heightened tensions with the U.S. and Israel.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment