KARACHI: The Pakistan Stock Exchange endured another volatile session on Tuesday as escalating tensions in the Middle East and sharply higher international oil prices rattled investors. The benchmark KSE-100 index fell by more than 2,000 points at its worst point of the day, touching an intraday low of 171,490.63.
The market subsequently recovered a significant portion of those losses, finishing at 172,642.16 points, down 993.91 points, or about 0.57%, from the previous close. The rebound nevertheless left the index lower for the session and reflected continued nervousness over the economic consequences of the conflict involving Iran, the United States and other regional actors.
Analysts said the prolonged confrontation was undermining investor sentiment, while rising crude prices were adding another layer of concern. Brent crude approached $100 a barrel during Tuesday trading following Houthi attacks on Saudi energy facilities and threats surrounding shipping and energy infrastructure in the Gulf.