PSX Sheds Over 1,700 Points Amid Uncertainty Over US-Iran Talks]

Pakistan Stock Exchange (PSX) benchmark KSE-100 index dropped by more than 1,700 points during Friday’s intraday trade, snapping a four-session upward trend.

Initial optimism driven by falling oil prices and the signing of the ‘Islamabad MoU’ between the United States and Iran had earlier prompted buying activity across multiple sectors, allowing the KSE-100 to register its fourth consecutive day of gains on Thursday. However, momentum shifted sharply in Friday’s session.

The index reached an intraday peak of 182,185.87 points by 10:14am before entering a steady decline from 10:30am onwards. By 12:03pm, the KSE-100 stood at 178,539.46 points, down 2,858.75 points (1.58%) from the previous close of 181,398.21.

Although the index recovered somewhat by 2:53pm, it remained 1,742.96 points below the prior session’s closing level.

The sell-off followed the postponement of scheduled US-Iran talks in Geneva, which were viewed as a critical component of the peace framework established under the Islamabad MoU. The cancellation of these technical consultations dealership investor sentiment, according to Awais Ashraf, director of research at AKD Securities.

The dip contrasted with analyst expectations that the market would maintain its positive trajectory, supported by easing geopolitical tensions and a stable monetary policy environment.

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