PSX: Selling continues, KSE-100 settles nearly 700 points lower

The KSE-100 index closed lower on Wednesday, shedding 698.57 points or 0.40 per cent to finish at 171,943.59, according to Business Recorder. Investors remained cautious after fresh strikes in the Middle East weighed on sentiment at the Pakistan Stock Exchange. The benchmark had opened near 173,000 and briefly touched a high of 173,174.18 before giving up its early gains.

Trading was range-bound through the afternoon until a sharp drop in the final hours took the index to a low of 171,801.66. The decline followed a 993.92-point fall on Tuesday, when rising US-Iran tensions and higher crude prices prompted profit-taking in heavyweight sectors. Brent crude climbed toward $100 a barrel, adding to inflation concerns with US consumer price figures awaited.

Regional markets were mixed, with Sydney and Hong Kong lower while South Korea and Taiwan gained on chip and AI stocks. Oil prices rose for a fourth straight session, with Brent futures up $1.57 to $99.49 a barrel, a level not seen since late June.