The Pakistan Stock Exchange (PSX) extended its losing streak on Tuesday, with the benchmark KSE-100 Index plunging more than 6,400 points as rising geopolitical tensions and soaring oil prices rattled investor confidence.
Heavy selling swept across the market after US President Donald Trump announced a 20 percent shipping fee on cargo passing through the Strait of Hormuz and the reinstatement of a blockade on Iranian ports. The move raised fresh concerns over global crude supply disruptions, pushing oil prices higher and increasing fears of inflation and rising import costs.
The uncertainty sparked widespread selling, with investors reducing exposure to equities amid concerns that higher energy prices could weigh on Pakistan’s economic outlook.
At the close, the KSE-100 Index settled at 173,518.81, down 6,408.23 points, or 3.56 percent. During the session, the index touched an intraday high of 178,112.04 before falling to a low of 173,349.41, moving within a range of 4,762.63 points. Trading volume in the benchmark index reached 409.23 million shares.
Market breadth remained overwhelmingly negative. Out of the 100 companies in the index, only one stock finished higher while the remaining 99 closed in the red. GHNI, TRG, GAL, AKBL and MLCF were among the biggest losers, while UPFL was the only stock to post a gain.
Commercial banks led the decline, dragging the index down by more than 2,160 points. Cement, oil and gas exploration, fertiliser, and investment companies also came under heavy selling pressure. UBL, ENGROH, FFC, LUCK and MEBL were the largest contributors to the benchmark’s decline.
The broader market also remained under pressure. The All Share Index dropped 3,807.29 points, or 3.48 percent, to close at 105,463.40.
Overall market activity stayed strong despite the selloff. Total traded volume rose to 912.61 million shares from 845.28 million a day earlier, while traded value increased by Rs10.06 billion to Rs45.61 billion. Of the 498 companies traded, 40 advanced, 439 declined and 19 closed unchanged.
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