PSX slides as stalled US-Iran talks, Hormuz tensions weigh on sentiment 

Bears dominated trading as the Pakistan Stock Exchange (PSX) came under heavy selling pressure on Thursday, driven by uncertainty over stalled United States–Iran talks and continued restrictions around the Strait of Hormuz, which weighed on investor sentiment.

According to the PSX website, the benchmark KSE-100 Index opened on a negative note, falling more than 1,000 points in early trade before extending losses through the session. By noon, the index had dropped to an intraday low of 168,416.02, shedding over 3,300 points. 

At close, the market ended the session at 169,173.37, down by 2,405.93 points, or 1.4%, reflecting sustained selling across major sectors.

Pressure was visible in key segments, including automobile assemblers, cement, fertiliser, oil and gas exploration, oil marketing companies and power generation. Index-heavy stocks such as HUBCO, MARI, OGDC, POL, PPL, SNGPL, FFC, MCB and UBL remained in the red throughout the session.

The decline followed losses in the previous session, when the index fell by 1,576.48 points, or 0.91%, to close at 171,579.31, as geopolitical uncertainty continued to drive cautious investor behaviour.

Global markets, however, showed a different trend. Asian equities moved higher, tracking gains on Wall Street, where strong corporate earnings supported investor confidence.

Overnight, the S&P 500 rose 1% while the Nasdaq gained 1.6%, both closing at record levels.

MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 1% to a record high, supported by gains in technology stocks across the region.

Markets in Japan, South Korea and Taiwan extended their rally, with Japan’s Nikkei index crossing the 60,000 mark for a second consecutive session.

In contrast, China’s blue-chip index rose 0.3%, while Hong Kong’s Hang Seng edged down 0.3%.

Oil prices continued to climb for a fourth straight session amid tensions in the Gulf, where Iran seized two container ships attempting to exit through the Strait of Hormuz, adding to concerns over disruptions in global shipping routes.

Brent crude futures rose $1.26, or 1.2%, to $103.17 a barrel at 0630 GMT, after settling above $100 for the first time in ​more than two weeks on Wednesday. West Texas Intermediate futures were also up $1.20, or 1.3%, at $94.16.