The Pakistan Stock Exchange (PSX) on Monday witnessed massive selling pressure following the US-Iran failed talks in Islamabad with benchmark KSE-100 Index losing over 6,500 points.
At close, the benchmark index settled at 160,591.33, a decline of 6,600.04 points or 3.95%.
Selling pressure dominated the market across major sectors, including automobiles, cement, commercial banks, oil and gas exploration, OMCs, power generation, and refineries. Heavily weighted stocks such as ARL, HUBCO, MARI, OGDC, POL, PPL, PSO, SSGC, SNGPL and WAFI all closed in negative territory, dragging the broader index lower.
In contrast, the previous week had ended on a positive note, with the KSE-100 Index posting gains amid improved investor confidence. Optimism over ongoing US–Iran negotiations spurred widespread buying across key sectors, lifting the benchmark by 1,673.87 points, or 1.01%, to settle at 167,191.38 points.
Meanwhile, global oil markets saw a sharp rebound, with prices surging above $100 per barrel on Monday.
The increase followed reports that the United States Navy was preparing to restrict maritime movement involving Iran through the Strait of Hormuz after diplomatic efforts between Washington and Tehran failed to yield a breakthrough.
As a result, Brent crude rose by $7.03, or 7.4%, to $102.23 per barrel, while West Texas Intermediate climbed $7.31, or 7.6%, to $103.88 per barrel, recovering from losses recorded in the previous session.
