ISLAMABAD: The Pakistan Stock Exchange (PSX) fell sharply and lost more than 2,000 points during the intraday trade on Monday, with analysts blaming the slump on geopolitical uncertainty linked to heightened tensions in the region.
The benchmark KSE-100 index lost 2,025.53 points, or 1.1 percent, to close at 182,384.14 points, down from 184,409.67 points at the weekend close, according to PSX data.
The development came amid public unrest in Iran over worsening economic conditions, with the death toll reaching nearly 550 and the government arresting more than 10,600 people in a crackdown.
US President Donald Trump said late Sunday his administration was in talks to set up a meeting with Tehran but cautioned he may have to act first as reports mount of increasing deaths and the government continues arrests.
“[Pakistan] stocks slumped on geopolitical uncertainty,” Ahsan Mehanti, chief executive officer at Arif Habib Commodities, told Arab News. “Weak global equities, political noise, and security unrest played a catalyst role in selling activity at PSX.”
