The Pakistan Stock Exchange (PSX) continued to face selling pressure on Wednesday, following a global market rout that sent Asian and US stocks sharply lower.
The benchmark KSE-100 Index fell by over 400 points in early trading, reflecting investor caution amid widespread losses across international markets.
At 9:45 am, the index stood at 160,849.20 points, down 432.56 points (0.27%). Heavy selling was seen in key sectors, including banking, oil and gas exploration, power generation, and refineries, with major stocks such as HUBCO, MARI, OGDC, WAFI, HBL, MCB, MEBL, and NBP trading in the red.
The market’s decline followed Tuesday’s session, when investors opted for profit-taking after two days of gains. The KSE-100 had then dropped 1,521 points (0.93%) to close at 161,281.77.
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Globally, Asian and US equities slumped after a tech-led selloff on Wall Street sparked fears over overstretched valuations. Tokyo’s stock index plunged 4.5%, while South Korean shares dropped as much as 6.2%. Japan’s SoftBank Group also saw a sharp 10% fall, mirroring overnight weakness in the Nasdaq Composite.
Market analysts said investors are now treading cautiously amid renewed global uncertainty and expectations of corrections after record highs in recent months.
