ISLAMABAD: The Pakistan Stock Exchange (PSX) witnessed a sharp decline on Monday as shares collapsed like a house of cards, with the benchmark KSE-100 Index at one stage losing more than 7,000 points. However, the market later recovered some losses as investors remained cautious amid escalating tensions in the Middle East.
By midday, the KSE-100 Index stood at 146,828.99 points, down 5,424.52 points, reflecting a decline of 3.71 percent. The steep fall highlighted widespread panic selling driven by geopolitical uncertainty.
Earlier, on Friday, the market had already shown signs of เคเคฎเคเฅเคฐเฅ. The index initially gained more than 700 points to reach 153,660 points. Nevertheless, the rally proved short-lived as selling pressure intensified during intraday trading. Consequently, the bearish momentum persisted until the close, with the index shedding 1,200 points to settle at 151,707 points.
Meanwhile, global oil markets surged sharply, further unsettling investors. Benchmark Brent crude rose by $3.09 to $115.66 per barrel, while West Texas Intermediate climbed to $102.56 per barrel. Over the past month, Brent has recorded a remarkable 59 percent increase, marking its biggest monthly surge since the Gulf War.
Experts linked the spike primarily to the closure of the Strait of Hormuz, a vital route that handles nearly one-fifth of global oil and gas supplies. Furthermore, the ุงูุฃุฒู ุฉ has expanded to other key trade corridors, including the Red Sea and the Bab el-Mandeb Strait.
In addition, tensions escalated after Yemenโs Houthi forces launched attacks on Israel, widening the conflict across the region. In response, Saudi Arabia redirected oil exports through Yanbu port, shipping around 4.6 million barrels per day to stabilize supply chains.
