PSX Loses Over 1,500 Points as Israel-Iran War Raises Investor Anxiety

The 100-Index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Wednesday, losing 1,505.11 points, a negative change of 1.23 percent, closing at 120,466 points as compared to 121,971 points on the last trading day. A total of 707,300,056 shares were traded during the day as compared to 1,152,012,654 shares the previous trading day, whereas the price of shares stood at Rs. 21.273 billion against Rs. 27.983 billion on the last trading day. As many as 470 companies transacted their shares in the stock market, 102 of them recorded gains and 327 sustained losses, whereas the share price of 41 companies remained unchanged. In a note, brokerage firm Topline Securities said that the market endured a lackluster trading session, mirroring the nervous sentiment across global markets. Rising geopolitical tensions, particularly the escalating standoff between Iran and Israel, weighed heavily on investor confidence. The atmosphere of uncertainty prompted a risk-averse approach, leaving the market directionless for most of the day, it said.