KSE-100 falls over 2,000 points amid global market sell-off.
Image: Reuters
KARACHI: The Pakistan Stock Exchange (PSX) came under strong selling pressure on Monday as rising Middle East tensions and higher global oil prices weighed on investor sentiment.
The benchmark KSE-100 Index fell sharply during trading, hitting an intraday low of 168,432.45, down 2,046.49 points, or 1.2%, from the previous close.
The index also touched an intraday high of 169,360.54, still down 1,118.4 points, or 0.66%, showing broad-based weakness throughout the session.
Market experts linked the decline to geopolitical escalation and concerns over rising crude oil prices.
PSX analyst Ahsan Mehanti said the fall was driven by “Iran escalation and worsening Middle East tensions,” along with pre-budget uncertainty and expectations of higher global oil prices.
Brent crude rose more than $3 per barrel, reaching $96.24, while US West Texas Intermediate climbed to $93.41. The surge followed renewed conflict in the region, including strikes in Lebanon and reported explosions in Iran.
Oil prices have already risen more than 50% since March, raising concerns about Pakistan’s import bill and external account stability.
Asian markets also fell sharply, with South Korea’s KOSPI down 5%, Japan’s Nikkei dropping nearly 4%, and Taiwan’s index falling 3.9%. The sell-off was also influenced by weak tech-sector sentiment and expectations of tighter US monetary policy.
The KSE-100 had also closed lower in the previous session, shedding 696.57 points to settle at 170,478.94, continuing a cautious trend ahead of the budget and amid global uncertainty.
