PSX falls amid uncertainty over US Iran talks
Pakistan Stocks Slide As US Iran Talks Create Uncertainty
KARACHI: (Web Desk) – Negative sentiment dominated trading at the Pakistan Stock Exchange on Wednesday, as uncertainty surrounding ongoing US-Iran talks in Islamabad weighed on investor confidence.
The benchmark KSE-100 Index dropped sharply by more than 1,200 points in the early minutes of trading. By 10:40am, the index had recovered slightly but was still down 674.45 points, standing at 172,481.34 points, reflecting a decline of 0.39%.
Broad-based selling was observed across major sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration, OMCs, power generation, and refineries. Key index-heavy stocks such as HUBCO, MARI, OGDC, PPL, HBL, MCB, MEBL, and NBP all traded in negative territory.
A day earlier, the market had experienced volatility but ended on a positive note, with the KSE-100 Index gaining 959 points, or 0.56%, to close at 173,155.79 points, indicating underlying resilience despite cautious sentiment.
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On the global front, US stock futures showed gains after President Donald Trump announced an indefinite extension of the Iran ceasefire. While the move supported investor sentiment, uncertainty persists as it remains unclear whether Iran or US ally Israel will agree to the extension.
Despite the continued closure of the Strait of Hormuz, which has kept oil prices elevated, global markets have largely stabilized. US futures, including the S&P and Nasdaq, posted gains, while Asian markets showed mixed performance, with Japan’s Nikkei 225 slightly down.
Following a sharp downturn in March due to Middle East tensions, global markets have rebounded in recent weeks, supported by hopes of a lasting ceasefire and potential peace agreement.
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