PSX remains under pressure as 100 index drops 1,690 points

Karachi (Web Desk): The Pakistan Stock Exchange (PSX) continued its downward trend for the third consecutive trading session, with the benchmark KSE-100 Index losing 1,690 points amid growing uncertainty in global financial markets.

The market opened on a negative note and remained under pressure throughout the trading session. At the close, the KSE-100 Index settled at 174,776 points.

Market sources attributed the decline to rising tensions in the Middle East, expectations surrounding a possible increase in US interest rates, and weakness in international stock and bond markets.

Investors have adopted a cautious approach amid concerns over the global economic outlook. Bond prices in the European, US and Japanese markets have also come under pressure due to expectations of higher US interest rates, with the impact extending to equity markets.

During the session, around 610 million shares changed hands in deals worth Rs41 billion. The market’s total capitalization also declined by Rs200 billion, falling to Rs19.581 trillion.