PSX comes under selling pressure, sheds 1,003.40 points by midday
The Pakistan Stock Exchange experienced a significant decline, with the KSE-100 index dropping over 1,600 points. The sell-off was driven by investor anxiety regarding rising global oil prices and geopolitical tensions in the Strait of Hormuz.
Why it matters
Market volatility in emerging economies often reflects broader global economic instability and energy security concerns.
--> Home Business PSX tumbles 1,693 points as selling pressure intensifies KSE-100 settles below 174,000 as geopolitical tensions, higher oil prices unsettle investors
facebook --> twitter --> whatsup --> linkded --> email MORE (3) Messenger Whatsapp --> A stock broker reacts while monitoring the market on the electronic board displaying share prices during trading session at the Pakistan Stock Exchange, in Karachi on July 3, 2023. Photo: Reuters/ File KARACHI: The Pakistan Stock Exchange (PSX) succumbed to heavy selling pressure on Monday, with the benchmark KSE-100 Index plunging 1,692.75 points, or 0.97% to settle at 173,636.07, as concerns over rising oil prices and escalating tensions around the Strait of Hormuz weighed on investor sentiment.
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