Equities see selling as KSE-100 loses over 700 points amid Middle East tensions

A volatile trading was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index shedding over 700 points on Wednesday amid escalating tensions in the Middle East.

At 3pm, the benchmark index was hovering at 169,581.7, down by 748.82 points or 0.44%.

Selling was observed in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs and power generation. Index-heavy stocks, including MCB, NBP, UBL, PSO, MARI, OGDC and PPL, traded in the red.

On Tuesday, PSX staged a strong recovery as easing geopolitical tensions between Iran and Israel and a decline in international crude oil prices boosted investor confidence, triggering broad-based buying across key sectors. The benchmark KSE-100 Index gained 1,376.85 points, or 0.81%, to settle at 170,330.56 points.

Internationally, Asian stocks fell on Wednesday while oil prices surged as escalating tensions in the Middle East unsettled markets, dimming hopes for an end ​to the months-long war that has pushed commodities higher and stoked inflation worries.

The United States launched strikes against Iran after ‌President Donald Trump said Tehran had shot down a U.S. Apache helicopter in the Strait of Hormuz, leaving investors on edge over a fragile ceasefire between all sides.

MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.6%. Japan’s Nikkei fell 0.9% while the tech-heavy South Korean KOSPI slumped 2% in a volatile week where AI stocks have ​come under pressure.

Oil prices climbed about 1% in early trade, moving away from a seven-week low touched in the previous session in ​the wake of the fresh U.S. attacks. Brent futures rose 0.9% to $92.29 a barrel, while U.S. West Texas Intermediate ⁠WTI crude climbed 0.8% to $88.97.

This is an intraday update