PSX rebounds after record crash amid Middle East tensions
Business
The Pakistan Stock Exchange rebounded on Tuesday, with the KSE-100 index rising over 4,000 points to 156,106, following a significant drop due to geopolitical tensions and a major sell-off on Monday.
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) on Tuesday rebounded with significant gains a day after it suffered massive losses due to geopolitical tensions.
During intraday trading, the KSE-100 index gained over 4,000 points to reach 156,106 points compared to previous close of 151,972 points.
A day earlier the stock marked experienced a dramatic drop on Monday, with the KSE-100 index plummeting by more than 16,000 points as escalating geopolitical tensions between Iran, Israel, and the United States triggered widespread investor panic and a massive sell-off.
The KSE-100 index fell by 16,089.17 points, closing at 151,972.99 points, marking a significant decline of 9.57% from the previous day's close of 168,062.16 points.
Meanwhile, oil prices rose for a third day on Tuesday as the widening U.S.-Israeli conflict with Iran and threats to shipping through the Strait of Hormuz heightened fears of supply disruptions from the key Middle East producing region.
Brent crude futures were at $78.83 a barrel, up $1.10, or 1.4%, by 0107 GMT.
On Monday, the contract surged to as high as $82.37, its highest since January 2025, though it pared those gains to settle 6.7% higher.
U.S. West Texas Intermediate crude jumped 74 cents, or 1%, to $71.97 a barrel.
In the previous session, the contract initially climbed to its highest since June 2025 before sliding back to still settle up 6.3%.
