KARACHI: Equity investors lost a staggering Rs706 billion in a single session amid persistent panic stemming from geopolitical developments fuelling a surge in oil prices, following Donald Trump’s imposition of a 20 per cent charge on ships navigating the Strait of Hormuz. The Pakistan Stock Exchange (PSX) came under extreme selling pressure on Tuesday, pulling the benchmark KSE-100 index below the 174,000 level.
Topline Securities Ltd said the PSX witnessed a bloodbath, with the index plunging 6,408.23 points, or 3.56 per cent, to close at 173,519. The sharp sell-off was driven by heightened geopolitical tensions following the reported collapse of the interim peace arrangement between Washington and Tehran.
Investor sentiment deteriorated after reports that the US reimposed a naval blockade and conducted air strikes, while Iran responded by targeting additional oil tankers transiting the strait.
The escalation fuelled concerns about regional stability, potential disruptions to global oil supplies, and heightened risk aversion across financial markets, prompting broad-based selling in the market.
Equity investors lose Rs706bn in a single session
