Summary Pakistan’s stock market fell over 1,000 points in early trading, while rising oil prices and uncertainty over U.S.-Iran talks weighed on global investor sentiment.
ISLAMABAD (Dunya News) – Pakistan Stock Exchange (PSX) opened in negative territory on the second trading day of the week, with the benchmark KSE-100 Index falling by more than 1,000 points in early trading.
The KSE-100 Index dropped to 180,076 points shortly after the start of trading, reflecting a sharp decline in market sentiment.
The stock market had also closed lower in the previous trading session. The KSE-100 Index ended the day at 181,310 points, down 119 points.
Meanwhile, Oil prices rose on Tuesday as negotiations between the United States and Iran over a peace deal and the reopening of the Strait of Hormuz hit an impasse, while Asian shares drifted on protracted uncertainty over the global inflation outlook.
U.S. President Donald Trump responded with his own demands on Monday to Iran's conditions for a peace deal, calling for Iran to pay compensation for those killed in wars, attacks and protests, in a rhetorical escalation likely to complicate efforts to reopen the crucial waterway.
MSCI's broadest index of Asia-Pacific shares outside Japan (.MISX00000PUS), opens new tab swung between losses and gains and was up 0.36%, while South Korea's KOSPI (.KS11), opens new tab rose 1.3%, as the latest escalation in Gulf hostilities kept market sentiment fragile.
Nasdaq futures edged 0.34% higher while S&P 500 futures added 0.13% after Wall Street ended lower in Monday's cash session.
EUROSTOXX 50 futures were flat, while FTSE futures fell 0.05% and DAX futures edged 0.07% higher.
