PSX sinks 1,109 points as oil, Hormuz risks hit sentiment

On Wednesday, the Pakistan Stock Exchange (PSX) experienced a significant downturn, with the benchmark KSE-100 index dropping by 1,109 points. The market initially opened with gains before succumbing to heavy selling pressure in the latter half of the trading session.

The reversal was driven by negative investor sentiment stemming from rising global oil prices and growing geopolitical uncertainty surrounding the Strait of Hormuz.