The KSE‑100 settled at 168,021.80 points, as selling pressure hit banks, cement, energy and automobile stocks.
The Pakistan Stock Exchange (PSX) faced renewed selling pressure on Wednesday, erasing much of the previous session’s rebound as escalating Middle‑East tensions pulled the benchmark KSE‑100 Index down by over 1,300 points during the day.
The PSX opened lower, with the KSE‑100 dropping more than 600 points in the early minutes. The sell‑off continued and sharpened after 3 p.m., driving the index to an intraday low of 167,849.70 points—a decline of 1,542 points.
Selling pressure was widespread, affecting automobile assemblers, cement producers, commercial banks, oil and gas exploration firms, and oil marketing companies.
At the close, the KSE‑100 closed at 168,021.80 points, down 1,370.52 points (0.81%) from the previous session’s finish.
The drop followed a strong rebound the prior day, when investors reacted positively to the State Bank of Pakistan’s decision to hold the policy rate steady at 11.50%. Selective buying across key sectors helped the market recover much of the earlier losses.
On Tuesday, the benchmark KSE‑100 Index closed at 169,392.32 points, up 1,421.67 points.
Global equities rose on Wednesday as gains in government bond yields and oil prices paused ahead of a key U.S. Federal Reserve interest‑rate decision later in the day.
MSCI’s global equities index rose 0.1% after two sessions of decline, while the Asia‑Pacific ex‑Japan index gained 0.6%, ending a four‑day losing streak.
European markets mostly opened higher, with the pan‑European STOXX 600 gaining 0.3%.
U.S. S&P 500 futures rose after the index closed lower for a second consecutive session, as the benchmark 10‑year Treasury yield reached its highest level since 2007.
Oil prices declined on Wednesday after reports that Saudi Arabia was offering extra crude cargoes via Oman eased worries about Middle‑East supply disruptions, while European diesel prices remained near record highs.
Brent crude futures fell 59 cents (0.54%) to $108.16 a barrel at 09:26 GMT, and U.S. West Texas Intermediate futures dropped $1.20 (1.13%) to $104.63 a barrel.
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