KSE-100 sheds over 500 points at midday amid geopolitical jitters

The Pakistan Stock Exchange (PSX) displayed a fragile and indecisive tone on Wednesday, reflecting heightened geopolitical uncertainty and cautious investor sentiment. The benchmark KSE-100 index opened under pressure, setting a jittery tone early in the session. Intra-day movement remained volatile, with the market briefly recovering 119.24 points (+0.07%) around 11:34am after an earlier dip of 135.08 points (-0.08%) at the open. Read: PSX gains trimmed as profit-taking limits early rally to 960 points The fluctuation underscored a lack of clear direction as investors stayed on edge amid uncertainty surrounding anticipated US-Iran peace talks in Islamabad. The geopolitical backdrop prompted a cautious “wait-and-see” approach, reflected in subdued trading volumes. Market activity showed a tug-of-war, as a $1 billion Saudi deposit provided some support, but heavy profit-taking in key sectors — including automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing companies (OMCs), power generation, and refineries — kept the index under pressure. Read More: PSX commences week with 1% slide Intra-day movement remained choppy, with the index touching a high of 173,452.66 and a low of 171,841.04. Trading volume stood at 184.9 million shares, with total value at Rs15.23 billion, reflecting cautious investor participation. At 12:50pm, the index was trading at 172,649.21, down 506.58 points (0.34%) at the time of filing this report.