Middle East conflict weighs on PSX
The Pakistan Stock Exchange (PSX) experienced a decline as investors reacted cautiously to escalating geopolitical tensions in the Middle East. Despite strong corporate earnings, market sentiment remained risk-averse heading into the weekend.
Why it matters
Regional geopolitical instability continues to impact emerging market performance and investor confidence in Pakistan.
--> Home Business Middle East conflict weighs on PSX KSE-100 index sheds 347 points; profit-taking grips banks, fertiliser firms
facebook --> twitter --> whatsup --> linkded --> email MORE (3) Messenger Whatsapp --> PSX KARACHI: Pakistan Stock Exchange (PSX) slipped into negative territory on Friday as cautious investor sentiment and fears of an escalation in the Middle East conflict triggered selling across major sectors.
The benchmark KSE-100 index closed at 181,430.02, down 346.57 points, or 0.19%, after hitting the intra-day high of 181,647.27 and the intra-day low of 180,620.08.
Investor interest remained subdued as concerns over widening geopolitical tensions overshadowed domestic triggers. Although Saudi Arabia, Turkey and Pakistan reaffirmed their commitment to mutual defence, fears that the Middle East conflict could escalate prompted market players to adopt a cautious stance ahead of the weekend.
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