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PSX slips as profit-taking, oil concerns weigh on sentiment
['Our Correspondent', 'Muzammil Azeem']
The Express Tribune
The benchmark KSE-100 index ended the session at 181,430.02, down 346.57 points, or 0.19%, after moving between an intraday high of 181,647.27 and a low of 180,620.08.
The market remained subdued throughout the session before slipping deeper into the red as investors adopted a risk-averse stance amid mounting geopolitical uncertainty.
Although Saudi Arabia, Turkey and Pakistan reaffirmed their commitment to mutual defence, concerns that the Middle East conflict could widen continued to weigh on market sentiment, prompting investors to trim positions ahead of the weekend.
The advance in global crude oil prices also kept investors cautious over the potential impact of prolonged regional tensions on inflation and the broader economy.
Easing geopolitical tensions, stable oil prices and the ongoing earnings season may support sentiment, although profit-taking at higher levels could keep the benchmark volatile, he added.