KARACHI: The Pakistan Stock Exchange (PSX) on Monday failed to sustain the weekend’s mild recovery, as the situation in the Middle East and political uncertainty weighed on investor sentiment, triggering profit-taking across the board.
This pressure forced the benchmark KSE-100 index to close below 174,000 points, with rising oil prices posing renewed economic challenges amid elevated inflationary pressures.
Topline Securities Ltd said the index extended its decline, closing at 173,636.08, down 1,692.74 points, or 0.97 per cent, after trading between an intraday high of 175,353 and a low of 173,603.
The brokerage noted that market sentiment remained cautious amid renewed US-Iran geopolitical tensions and elevated international oil prices, heightening concerns about inflationary pressures, the external account, and overall macroeconomic stability.
Rising crude and Strait of Hormuz concerns weigh on sentiment
