The Pakistan Stock Exchange (PSX) came under intense selling pressure on Monday, with the benchmark KSE-100 Index tumbling more than 9% as escalating geopolitical tensions rattled investor confidence.
Right from the opening bell, heavy sell-offs dominated the market. At close, the benchmark index settled at 151,972.99, a decline of 16089.17 points or 9.57%.
The downturn was broad-based, affecting major sectors such as automobile assemblers, cement, commercial banking, fertilisers, oil and gas exploration, oil marketing companies, power generation, and refineries. Prominent index-heavy stocks including HBL, MCB, MEBL, MARI, OGDC, POL, PPL, HUBCO, and ARL all traded firmly in negative territory.
The slump follows a difficult week for Pakistan’s equity market, which had already been weighed down by persistent geopolitical strains and domestic security concerns. Over the previous week, the KSE-100 Index shed 5,107.53 points, a 2.9% week-on-week drop, closing at 168,062.17.
Global markets also reflected heightened uncertainty. Oil prices climbed sharply amid expectations that military conflict in the Middle East could drag on for weeks. Brent crude surged 4.5% to $76.07 per barrel after briefly crossing $82.00, while US crude gained 3.9% to reach $69.59 per barrel.
Meanwhile, investors sought safe-haven assets, driving gold prices up 1% to $5,327 per ounce and boosting demand for the US dollar.
