The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index plummeted by over 4,000 points during intraday trade on Monday.
The KSE-100 index declined by 4,770.14 points, or 3.14 per cent, to stand at 146,937.37 points as of 12:09pm from the previous close of 151,707.51 points.
Last week, the benchmark KSE-100 index declined 0.68pc week-on-week, according to Topline Securities Ltd, reflecting sustained investor caution as inflationary pressures linked to the Middle East conflict began to filter through to the broader economy. Looking ahead, analysts expected market direction to remain closely tied to geopolitical developments.
PSX has been in a losing streak amid ongoing geopolitical tensions and the absence of positive economic triggers, which have continued to dampen investor sentiment.
Earlier last week, it witnessed a brief recovery at the start of the week, fuelled by ceasefire negotiations and mediation efforts involving several countries, including Pakistan; however, it was short-lived.
With no breakthrough in talks, global markets stayed under pressure, especially as oil prices rose after Tehran rejected a 15-point US proposal and vessel movements through the Strait of Hormuz remained restricted, a vital route for a large portion of global oil supplies.
