Pakistan's KSE100 Plunges 10% Amid Escalating Tensions with Afghanistan and West Asia

Market Report: Pakistan Stock Market Plummets 9.68% Amid Geopolitical Tensions

On Monday, the Pakistan Stock Exchange (PSX) witnessed a significant decline in its benchmark index, KSE-100, falling nearly 10%. The index closed at 151,798.54, down from its intraday high due to escalating geopolitical tensions in West Asia and the ongoing military operation against Afghanistan.

The KSE-100 touched an intraday low of 151,747.95, representing a decline of 9.7%. The KSE-30 index also dropped 9.8% during the session, prompting trading to be halted for an hour. Following the resumption, the KSE-30 pared some losses, trading 7.3% lower.

The decline in the stock market was attributed to the unrest across the country following US-Israel strikes on Iran, resulting in the reported deaths of at least 35 civilians. The US diplomatic missions faced violent protests, with 12 Pakistani protesters reportedly killed and over 30 others injured in clashes with US Marine security personnel outside the US Consulate in Karachi.

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In a related development, Prime Minister Shehbaz Sharif chaired a high-level meeting to review the regional and internal security situation. Additionally, he postponed his planned visit to Russia amid the prevailing global tensions.