PSX: KSE-100 sheds nearly 1,000 points amid geopolitical uncertainty

The Pakistan Stock Exchange closed lower on Tuesday, with the benchmark KSE-100 index settling at 172,642.16 after falling 993.91 points or 0.57%, according to Business Recorder. Investors reacted to fears that the Middle East conflict could last longer, after Iran warned it would hit back if the US launched fresh attacks on its assets. Selling deepened around noon, pushing the index to an intra-day low of 171,490 before a late recovery toward 173,000 failed to erase the day's losses.

Topline Securities linked the decline to the ongoing US-Iran conflict and elevated international oil prices, which raised concerns about inflation, the external account and the import bill. Heavy selling in index-heavy sectors pulled down UBL, LUCK, MEBL, NBP and PPL, which together weighed on the index by roughly 485 points. PSEL, MCB and ATRL offset part of the drop, contributing around 199 points between them.

Oil prices rose for a third straight session, with Brent crude at $97.04 a barrel, while the rupee gained marginally against the dollar to close at 277.37. Volume on the all-share index climbed to 722.62 million shares from 679.19 million, and traded value rose to Rs27.94 billion from Rs23.69 billion. Cnergyico and Media Times led trading by volume, while 101 companies advanced and 359 declined out of 496 traded.