Selling continues at bourse, KSE-100 loses nearly 1%

Selling pressure continued unabated at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 shedding nearly 1% on Tuesday. The market opened on a positive note and briefly surged in early trade, but selling pressure quickly emerged, dragging the benchmark sharply lower by mid-morning, hitting an intra-day low of 163,907.59. Following the steep dip, the market staged a steady recovery through late morning and midday, with the index climbing back towards an intra-day high of 169,237.51. However, the rebound proved short-lived, pushing the KSE-100 back into negative territory by the end. At close, the benchmark index settled at 166,258.54, a decrease of 1,432.54 points or 0.85%. “Even though some geopolitical tensions have eased, risk appetite remains fragile,” Waqas Ghani, Head of Research at JS Global, told Business Recorder.