PSX snaps losing streak with marginal gain

KARACHI: Although the Pakistan Stock Exchange (PSX) managed to post marginal gains in a topsy-turvy session on Thursday, snapping a three-session losing streak, investor sentiment remained choppy as the Middle East conflict and political uncertainty continued to shake investor confidence.

Topline Securities Ltd said the market saw a volatile session, with the benchmark KSE-100 index opening higher and climbing to an intraday high of 1,019 points at 175,796.25. However, the early momentum failed to hold as profit-taking emerged in the latter half of the session, with the index swinging to an intraday low of 117 points at 174,893.68.

Eventually, the benchmark closed at 174,929.69, up 153 points, or 0.09 per cent, reflecting extreme volatility amid continued investor caution.

The volatility is primarily driven by the persistent geopolitical conflict, which continues to influence global energy markets. Rising international oil prices remain a significant concern for investors........

© Dawn Business