PSX Closing Bell: A Back-Foot Finish

Mettis Link News reported that the KSE-100 index ended Wednesday's session at 171,943.59, down 698.57 points or 0.40%. Oil prices moved toward $100 a barrel after fresh military tension involving the United States and Iran raised worries about crude supply from the Middle East. The move weighed on investor sentiment on the Pakistan Stock Exchange.

Intraday trading spanned 1,372.52 points, with the index peaking at 173,174.18 before dipping to a low of 171,801.66. Total volume reached 158.72 million shares, while only 28 of the 100 index companies closed higher. The remaining stocks were split between 69 decliners and 3 that finished unchanged.

Commercial Banks, Cement and Fertilizer were the heaviest sector drags, shedding 203.06, 191.35 and 170.84 points respectively. FFC, MCB, LUCK, MEBL and MARI cost the index the most, whereas PSEL, UBL, OGDC, LCI and SAZEW offered the strongest support. The broader All-Share Index slipped 337.01 points to 104,321.40, while traded value dropped by Rs5.31 billion to Rs22.64 billion. Over the fiscal year the KSE-100 has lost 8,358 points or 4.64%, and 2,111 points or 1.21% so far this calendar year.