The PSX opened sharply lower on Tuesday, with the benchmark KSE-100 Index losing more than 1,000 points in early trading.
The index fell to 180,076 points shortly after the market opened. The decline reflected weaker investor sentiment amid uncertainty in global markets.
The KSE-100 had also closed lower in the previous session. It ended Monday at 181,310 points, down 119 points.
Meanwhile, oil prices rose on Tuesday as negotiations between the United States and Iran reached an impasse. Talks over a peace deal and the reopening of the Strait of Hormuz remained uncertain.
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US President Donald Trump added to the uncertainty on Monday. He demanded compensation from Iran for people killed in wars, attacks and protests.
The latest demands could complicate efforts to reopen the strategically important waterway. The developments have also kept investor sentiment fragile across global markets.
Asian stocks moved between gains and losses. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.36%.
South Korea’s KOSPI performed better, rising 1.3%. However, concerns over the ongoing Gulf tensions continued to weigh on market sentiment.
In the United States, Nasdaq futures gained 0.34%, while S&P 500 futures rose 0.13% after Wall Street ended lower on Monday.
European markets showed mixed signals. EUROSTOXX 50 futures were flat, while FTSE futures slipped 0.05%. DAX futures edged 0.07% higher.
