PSX Closing Bell: Not Quite Green
Pakistan’s benchmark KSE-100 Index closed Monday’s trading session at 176,975.67, shedding 720.83 points or 0.41%, as heavy selling in commercial banks, technology and cement stocks outweighed gains in refinery and selected energy stocks. The index traded in a range of 1,193.77 points, hitting an intraday high of 178,138.68, up 442.18 points, before falling to a low of 176,944.91, down 751.59 points. The total volume of the KSE-100 Index stood at 493.82 million shares. The market remained under pressure amid heightened geopolitical concerns after a US strike on two Iranian rocket launchers on Larak Island in the Strait of Hormuz. The development pushed oil prices higher on concerns over potential supply disruptions, adding to investor caution given the strategic importance of the shipping route.