Selling returns to bourse, KSE-100 sheds nearly 1,900 points

Selling pressure returned to the Pakistan Stock Exchange (PSX) as conflict in the region continued to escalate, pushing the benchmark KSE-100 Index down by nearly 1,900 points during the trading session on Wednesday.At 11:35am, the benchmark index was hovering at 155,274.72, a decrease of 1,857.37 points or 1.18%.Selling was observed in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs and power generation. Index-heavy stocks, including OGDC, MARI, POL, PPL, HUBCO, HBL, MEBL and NBP, traded in the red.On Tuesday, PSX staged a powerful and confidence-restoring rebound as aggressive value buying in heavyweight sectors helped the PSX recover sharply from the previous session’s historic rout, signalling a decisive shift in market sentiment from panic to opportunity.The benchmark KSE-100 Index climbed 5,159.10 points or 3.39% to close at 157,132.10 points.Internationally, Asian markets skidded on Wednesday, with investors cutting crowded positions in gold and chipmakers on worries a wider Mideast war could deliver an energy shock that raises inflation and delays ​rate cuts.Shares in Seoul dived 4% to take two-day losses beyond 11% as ‌fast-money and foreigners bailed out of a market that had soared on memory chipmakers’ vast AI-driven profits.The selloff dragged the won to a 17-year low.Japan’s Nikkei slid 2.5% in a third straight session of losses.Japan and ​South Korea are major energy importers.Benchmark Brent crude oil futures are up more than ​12% for the week at $81.40 a barrel, though they came off highs after ⁠US President Donald Trump ordered an insurance guarantee on Gulf shipping and said the navy ​may escort oil tankers through the Strait of Hormuz if necessary.US and Israeli forces have pounded Iran ​for four days, and Iranian drones and missiles have struck Gulf oil refineries and also US embassies in Saudi Arabia and Kuwait.On Wall Street, indexes pared heavier losses, but the S&P ​500 closed 0.8% lower on fear over potentially prolonged higher oil prices.This is an intra-day update

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