PSX plunges over 1,300 points amid global market sell-off

The Pakistan Stock Exchange (PSX) came under heavy selling pressure on Wednesday. The benchmark KSE-100 Index fell sharply during the trading session.

The Pakistan Stock Exchange (PSX) came under heavy selling pressure on Wednesday. The benchmark KSE-100 Index fell sharply during the trading session.

The index dropped 1,339.73 points, or 0.75%, to reach 176,284.15 by 1:04pm. The decline came as regional markets also faced pressure and oil prices continued to rise.

The KSE-100 had already fallen 1,297.67 points, or 0.73%, earlier in the session. At 9:34am, the index was trading at 176,326.21.

The market remained volatile throughout the session. The KSE-100 recorded an intraday high of 176,935.03 and a low of 175,631.74.

Trading activity remained significant. Around 120.55 million shares changed hands during the session. The total traded value stood at Rs10.69 billion.

The previous close of the KSE-100 Index was 177,623.88. The latest decline therefore reflected a clear shift in investor sentiment.

The pressure on the local market came amid a wider sell-off across Asian stock markets. Investors have become increasingly cautious about global economic conditions.

Concerns surrounding heavy investment in artificial intelligence-related companies have also affected market sentiment. Investors are assessing whether valuations in some technology sectors have risen too quickly.

The rise in international oil prices added another source of uncertainty. Oil prices increased after fresh attacks were reported in the Middle East.

The developments have raised concerns about possible disruptions to global oil supplies. Higher energy prices could also increase inflationary pressures in several economies.

Investors are also watching the potential impact of higher oil prices on interest rates. A prolonged rise in energy costs could complicate efforts to control inflation.

Geopolitical tensions in the Middle East have further increased uncertainty in global financial markets. The latest developments have encouraged investors to adopt a more cautious approach.

The negative trend in Asian equities also affected sentiment at the PSX. Local investors remained under pressure as the benchmark index continued to trade in negative territory.