PSX: Benchmark index settles over 2,500 points lower

Business Recorder reported that the Pakistan Stock Exchange ended Tuesday in negative territory, with the KSE-100 closing 1.41 per cent weaker at 177,955.51 points. The index had recovered early in the session, climbing to a peak of 180,602.44 points, before heavy afternoon selling dragged it down to a low of 177,866.04 points.

Selling gathered pace in the afternoon after the Supreme Court directed that former prime minister Imran Khan be taken to Shifa International Hospital for medical checks. Aaj News reported that physician Dr Faisal Sultan and his sister, Dr Uzma Khan, will accompany him during treatment under the court's instructions.

On Monday, the index had gained 397.83 points to close at 180,502.45, helped by refinery stocks. Abroad, the price of Brent crude rose 0.2 per cent to $91.06 a barrel and US bond yields firmed as the US-Iran truce ran out. Tehran said it would adopt a fully offensive military stance, and the US 10-year Treasury yield rose to 4.728 per cent. Shifa International Hospital, which trades as SHFA, was named in the court order, while investors weighed local and overseas uncertainty.