PSX Closing Bell: The Long Goodbye
Pakistan’s benchmark KSE-100 Index tumbled 3,078.55 points or 1.79% on Thursday to close at 168,865.04, as a sharp rise in oil prices and intensifying tensions in the Middle East triggered broad-based selling at the Pakistan Stock Exchange. Oil prices extended their gains above $101 a barrel on Thursday as escalating tensions in the Middle East heightened concerns over further disruptions to global crude supplies, adding to pressure on investor sentiment and risk appetite. The index remained highly volatile during the session, trading in a range of 3,474.05 points. It hit an intraday high of 171,945.83, gaining 2.24 points, while the low stood at 168,471.78, down 3,471.81 points. The total volume of the KSE-100 Index stood at 261.33 million shares. Of the 100 index companies, only 3 closed up, 96 closed down, while 1 remained unchanged.