The index dropped nearly 9%, losing approximately.
Karachi: The Pakistan Stock Exchange (PSX) faced one of its most severe intraday declines on Monday, with the benchmark KSE-100 Index plunging more than 15,000 points amid rising geopolitical tensions involving Iran, Israel, and the United States.
At the market open, the index dropped nearly 9%, losing approximately 15,071 points from the previous close of 168,062.16. The index briefly reached a low of around 152,991 points before staging a modest recovery, settling around 155,935 points later in the trading session.
The sharp decline prompted an automatic circuit breaker to halt trading for one hour, aiming to prevent further panic-driven sell-offs.
Investor sentiment was deeply affected by recent developments, including U.S. and Israeli airstrikes on Iranian targets, which have heightened fears of an expanding Middle East conflict. Experts warn that such escalation could disrupt oil supplies and increase market volatility globally.
In response to these tensions, international oil prices surged sharply—Brent crude climbed approximately 10% to nearly $80 a barrel—reflecting concerns over potential supply disruptions. Analysts suggest that if instability persists, oil prices could rise even further.
