KARACHI (Dunya News) – Pakistan Stock Exchange (PSX) opened lower on Wednesday as hostilities in the Middle East erupted anew with Iran firing missiles at US bases in Kuwait and Bahrain, while diplomatic talks between Iran and the US showed little progress.
During the opening session, the KSE-100 index fell by 522.32 points to reach 170,499.45 points, reflecting a negative change of 0.31 percent compared to previous close of 171,021.77.
Meanwhile, oil prices rose, extending gains from the previous session in the international market.
Brent futures gained 81 cents, or 0.8%, to $96.81 a barrel at 0330 GMT, while U.S. West Texas Intermediate (WTI) crude climbed 91 cents, or 1.0%, to $94.67.
On Tuesday, the benchmark KSE-100 Index turned around to bullish trend, gaining 421.57 points, a positive change of 0.25 percent, closing at 171,021.77 points against 170,600.20 points on the last trading day, according to PSX data.
During the session, the ready market recorded a trading volume of 550.790 million shares with a traded value of Rs 27.444 billion, compared to 589.759 million shares valuing Rs 31.984 billion in the previous session. The market capitalization increased to Rs 18.940 trillion from Rs 18.876 trillion a day earlier.