PSX plunges 2,547 points amid investor caution

The benchmark KSE-100 index of the Pakistan Stock Exchange fell 1.41% on Tuesday, shedding 2,546.94 points to close at 177,955.51, according to The Express Tribune. It had started higher and peaked at 180,602.44 intraday, but selling intensified later and pushed the index to a low of 177,866.04.

Analysts linked the slide to rising oil prices, fading US-Iran peace hopes and the expiry of a ceasefire between the two countries. Domestic attention also centred on a court order for former prime minister Imran Khan to be moved to hospital for treatment. Ahmed Sheraz of KASB KTrade said profit-taking in heavyweight stocks deepened the decline, which spread across banks, oil and gas, fertiliser, cement and power shares.

Sheraz said buying interest stayed subdued because no fresh positive catalyst had emerged. Trading volume reached 1.04 billion shares worth Rs50.7 billion, while 368 stocks fell and 104 rose. Foreign investors bought shares worth Rs351 million, according to the National Clearing Company.