Heavy pressure was seen at the Pakistan Stock Exchange on Thursday, as rising geopolitical uncertainty and a recent surge in oil prices pushed the benchmark KSE-100 Index down by more than 6,000 points during intraday trading.
According to sources, the market opened in negative territory and remained under pressure throughout the day. Selling intensified in the early afternoon, causing a sharp fall in the index, which touched an intraday low of 181,961.14 points. However, some recovery in the final hour of trading reduced part of the losses. At the close, the KSE-100 Index settled at 182,338.12 points, down 6,042.26 points or 3.21 percent.
Sources attributed the selling pressure to rising geopolitical concerns and higher oil prices. It is worth noting that on Wednesday, the benchmark KSE-100 Index had closed at 188,380.39 points, up 177.53 points or 0.09 percent.
Meanwhile, Asian stock markets also showed consolidation on Thursday as mixed results in the technology sector made investors cautious ahead of Apple’s financial results. Despite verbal support from US and European officials, the dollar remained unstable.
In global markets, gold and silver prices reached record highs as investors continued to move into safe-haven assets. Oil prices also climbed to a four-month high after US President Donald Trump warned of possible military action against Iran if a nuclear agreement fails.
