PSX slips as border tensions unnerve investors

KARACHI: The Pakistan Stock Exchange (PSX) faltered on Friday as escalating tensions along the western border dampened investor sentiment, reversing the overnight recovery.

The benchmark KSE-100 index fell 831 points, or 0.49 per cent, to close at 168,062 after a volatile, range-bound session.

According to Topline Securities Ltd, the negative momentum stemmed largely from border tensions, though late-session buying helped the index pare earlier losses.

The market opened in the red following reports of Pakistani security forces carrying out airstrikes on militant strongholds inside Afghanistan. The heightened geopolitical situation triggered broad-based selling, dragging the index to an intraday low of 165,811.88, a loss of 3,081 points or 1.82pc before recovering part of the losses later in the session as no immediate retaliatory action was reported from the Afghan side.

Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said the session remained volatile amid concerns about regional instability, with investors trimming........

© Dawn Business