Pakistan, Aug. 20 -- The Pakistan Stock Exchange fell sharply on Wednesday as rising oil prices and Strait of Hormuz uncertainty weakened investor sentiment. The benchmark KSE-100 index lost 1,109.15 points.

The index initially gained 483.18 points and reached 178,438.68 during early trading. Buying was seen across automobile, cement, banking, oil and gas, and power sectors.

However, the early rally failed to continue as selling pressure increased later in the session. The KSE-100 reached an intraday high of 178,942.31 before falling to 176,638.11.

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The index eventually closed at 176,846.36, down 1,109.15 points or 0.62%. Investors remained cautious as oil prices reached their highest level in aro...