PSX succumbs to profit-taking pressure

The Pakistan Stock Exchange (PSX) registered a notable fall on Wednesday as caution gripped investors amid escalating geopolitical tensions, particularly between the US and Iran and fears of a potential US strike on Tehran that lifted oil prices The benchmark KSE-100 index dropped 1,381.69 points, or 0.75%, to close at 182,569.82, after swinging between the intra-day high of 184,727 and the low of 182,370. Profit-booking after recent gains kept market sentiment subdued for almost throughout the session. Analysts were of the view that investors locked in profits at higher levels and shied away from taking fresh exposure as regional uncertainty deepened. KTrade equities trader Ahmed Sheraz observed that the PSX closed under pressure, with the benchmark KSE-100 index settling at 182,570, down 1,382 points.