The Pakistan Stock Exchange (PSX) turned negative on Wednesday, with the benchmark KSE-100 Index opening lower and remaining in the red during the session.

The index fell to 168,998.17 points, down 394.15 points, or 0.23%, at 9:33am.

Selling pressure then pushed the index to an intraday low of 168,681.73 points, a decline of 710.59 points, or 0.42%.

By 12:38pm, the KSE-100 recovered slightly to 168,784.81 points. It was still down 607.51 points, or 0.36%.

The index recorded an intraday high of 169,382.01 points and a low of 168,334.74 points.

Trading volume reached 61.66 million shares, while traded value stood at Rs6.42 billion.

Major Sectors Face Selling Pressure

Selling spread across several major sectors during the session.

Automobile assemblers, cement companies and commercial banks came under pressure. Oil and gas exploration firms also declined.

Oil marketing companies faced selling as well.

The broad-based selling weighed on the KSE-100 Index and kept market sentiment subdued.

Oil Prices Add to Market Pressure

Oil prices declined on Wednesday after US crude inventories recorded an unexpectedly large increase.

The move added pressure to energy-related stocks at the PSX.

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At the same time, Middle East supply disruptions continued to affect Asian markets.

The ongoing uncertainty kept global energy markets unsettled. It also added another factor for investors to consider during the trading session.

KSE-100 Starts Below Previous Close

The KSE-100 Index had closed at 169,392.32 points in the previous session.

Wednesday’s early decline reversed the recovery seen in the earlier trading session.

Investors continued to monitor global oil prices and developments affecting Middle East energy supplies.

The direction of these markets remained important for sentiment at the Pakistan Stock Exchange.