Pakistan Stock Exchange declines amid oil and geopolitical concerns

The Pakistan Stock Exchange (PSX) experienced significant downward movement over two trading sessions. On Tuesday, the benchmark KSE-100 Index dropped by 2,546.94 points, or 1.41 percent, to close at 177,955.51 points. During this session, 368 companies reported losses while 104 posted gains.

On Wednesday, the index continued its decline, losing 1,109.15 points (0.62%) to close at 176,846.36. Despite an early intraday rally, investor sentiment was weakened by rising oil prices and geopolitical uncertainty regarding shipping through the Strait of Hormuz. Concerns over energy supplies and potential fuel costs contributed to the selling pressure.

Market activity was heavily influenced by the energy sector, with Cnergyico PK leading trading volumes. Additionally, discussions involving Petroleum Minister Ali Pervaiz Malik regarding potential relief in diesel and fuel prices added to the market's cautious atmosphere.