PSX Plummets Below 170,000 Amid Economic Uncertainty

News Desk
KARACHI: The Pakistan Stock Exchange (PSX) faced a significant downturn as anxious investors offloaded their shares, causing the benchmark KSE-100 index to fall below the crucial 170,000-point threshold amid escalating economic uncertainty.
According to Topline Securities Ltd, the index closed at 169,600.41 points, marking a decline of 825.22 points or 0.48 percent.
The trading session saw the index fluctuate between an intraday high of 170,944.35 and a low of 169,538.23. Initially, the market appeared stable around the 170,400-170,600 range, but a wave of late-session selling after 2:00 PM pushed the index down significantly.
Market sentiment remains cautious, heavily influenced by persistent geopolitical tensions in the Middle East.
The surge in crude oil prices, with Brent crude hovering around $107 per barrel, has exacerbated concerns regarding Pakistan’s import bill, inflation, and external account stability.
Ali Najib, Deputy Head of Trading at Arif Habib Ltd, noted that the PSX breached the psychologically significant 170,000 mark after a seven-session period of stability.
Looking ahead, analysts anticipate that the market will continue to react to global oil price fluctuations and geopolitical developments.
Investors are advised to remain vigilant as the situation evolves, with potential implications for the broader economy and local businesses.