Equities see volatile start as KSE-100 swings amid Middle East tensions

Business Recorder

Equities see volatile start as KSE-100 swings amid Middle East tensions

A volatile trading was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index swinging both ways during the opening minutes of trading on Wednesday amid escalating tensions in the Middle East. At 9:55am, the benchmark index was hovering at 170,335.39, up by 4.83 points. A mixed trading pattern was observed in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs and power generation. On Tuesday, PSX staged a strong recovery as easing geopolitical tensions between Iran and Israel and a decline in international crude oil prices boosted investor confidence, triggering broad-based buying across key sectors. The benchmark KSE-100 Index gained 1,376.85 points, or 0.81%, to settle at 170,330.56 points. Internationally, Asian stocks fell on Wednesday while oil prices surged as escalating tensions in the Middle East unsettled markets, dimming hopes for an end to the months-long war that has pushed commodities higher and stoked inflation worries. The United States launched strikes against Iran after ‌President Donald Trump said Tehran had shot down a U.S. Apache helicopter in the Strait of Hormuz, leaving investors on edge over a fragile ceasefire between all sides. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.6%. Japan’s Nikkei fell 0.9% while the tech-heavy South Korean KOSPI slumped 2% in a volatile week where AI stocks have come under pressure. Oil prices climbed about 1% in early trade, moving away from a seven-week low touched in the previous session in the wake of the fresh U.S. attacks. Brent futures rose 0.9% to $92.29 a barrel, while U.S. West Texas Intermediate ⁠WTI crude climbed 0.8% to $88.97. This is an intraday update

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