PSX: KSE-100 sheds over 200 points in early trade

Business Recorder reported that the Pakistan Stock Exchange opened lower on Tuesday, with the KSE-100 index losing more than 200 points in the first minutes of trade. The decline followed concerns that the Middle East conflict could drag on, after Iran warned it would hit back if the United States attacked its assets again. At 9:45am the benchmark stood at 173,411.59, down 224.48 points or 0.13 per cent.

Selling was concentrated in automobile assemblers, cement, commercial banks and oil marketing companies, while index heavyweights PSO, MARI, POL, MEBL, NBP and UBL traded in negative territory. On Monday the benchmark had already dropped 1,692.74 points, or 0.97 per cent, to close at 173,636.08, as investors stayed cautious. That decline was broad based, with commercial banks, oil and gas and cement stocks seeing the heaviest selling.

Elsewhere, the yen rose to 153.51, marking its firmest point since February 18, while Japan's Nikkei 225 edged up 0.2 per cent. Brent crude gained 0.04 per cent to $97.04 a barrel, extending a rally for a third session after touching a six-week peak on Monday.