KARACHI: The Pakistan Stock Exchange opened the second session of the week firmly in negative territory, with heavy selling dragging the benchmark index sharply lower.

The KSE-100 index fell by more than 1,000 points from the opening bell, sliding to the 180,076-point level as investors moved out of positions across the board.

The drop follows a comparatively mild close in the previous session, when the index ended 119 points lower at 181,310 points. Tuesday’s move represents a far steeper single-session correction and reflects a shift in sentiment rather than routine profit-taking.

Analysts point to the volatile external environment as a key pressure point. Global crude prices have surged on developments around the Strait of Hormuz, and the State Bank has separately flagged the risk of price spirals driven by geopolitical events in the Middle East — a combination that weighs on import-dependent sectors and on the broader inflation outlook.

The currency market told a steadier story. The US dollar was trading at Rs277.70 in the interbank market, holding stable through the session.

Market watchers say direction from here will depend heavily on how oil behaves and whether the transporters’ strike is resolved.