KARACHI:

Pakistan Stock Exchange (PSX) opened Wednesday’s session in positive territory, but the early gains soon gave way to war jitters, sending the KSE-100 index on a topsy-turvy ride as investors grappled with escalating tensions between the US and Iran.

The benchmark swung sharply during the session, touching an intraday high of 173,174.18 before falling to 172,250.20. It later recovered to 172,824.51, up 182.35 points or 0.11% as of 12:49pm.

Trading activity remained moderate, with 72.42 million shares at a traded value of Rs5.75 billion.

Meanwhile, workers’ remittances provided a positive development, reaching $3.7 billion in August 2026. Inflows increased 16.5% year-on-year and 0.7% month-on-month, reflecting continued strength in overseas workers’ transfers.

Read: PSX loses 994 points as ME conflict dents trust

Regional and global stock markets remained under pressure as the ongoing conflict heightened risk aversion, with investors closely watching developments for signs of further escalation and its potential impact on energy prices and economic stability.

The renewed escalation in the Middle East has shattered a month of relative calm, with increased attacks by both the US and Iran hitting military, shipping, and energy assets.

The conflict has also pushed oil prices higher, raising concerns over potential supply disruptions and broader economic repercussions.