Summary PSX erased early gains on Wednesday amid Middle East tensions, closing 318 points lower at 155,858. Oil prices fluctuated as IEA proposed record reserve release.
KARACHI (Dunya News) – Pakistan Stock Exchange (PSX) on Wednesday wiped out early gains amid growing uncertainty due to escalating Middle East conflict.
The KSE-100 closed at 155,858.47 points, registering a decline of 318.65 points or - 0.2 percent compared to previous close of 156,177.12.
The benchmark index touched an intraday high of 158,624.51 points and also dropped to 155,652.35 points, settling at 155,858.47.
Meanwhile, oil prices seesawed on Wednesday after the Wall Street Journal reported the International Energy Agency has proposed the largest release of oil reserves in its history to offset supply disruptions stemming from the war on Iran.
Brent futures traded up 11 cents, or 0.13% higher, at $87.91 a barrel at 0129 GMT. U.S. West Texas Intermediate (WTI) traded 7 cents higher and was last up 0.08%, at $83.52 a barrel.
