KSE-100 plunges below 170,000-mark as bears maintain control of PSX

The Pakistan Stock Exchange (PSX)’s benchmark index KSE-100 continued its bearish momentum, diving over 2,700 points during intraday trade on Thursday.

KSE-100 declined by 2,751.06 points or 1.60 per cent to stand at 168,828.24 from the previous close of 171,579.30 points.

Developments in the Middle East following a stalemate over holding a second round of US-Iran talks have continued to influence market sentiment.

On Wednesday, nervousness persisted on the PSX amid a resurgence in oil prices, as the chances of an end to war dimmed after both the US and Iran claimed the seizure of cargo ships in the Strait of Hormuz.

The market remained volatile throughout Wednesday, swinging in both directions, but ultimately closed in the red.

Amid uncertainty over the US–Iran talks, sentiment is likely to remain cautiously supportive yet highly fragile. Any progress could boost confidence, while delays or negative developments may trigger volatility, leaving markets largely headline-driven and swift to react to geopolitical cues in the near term.