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KARACHI: The Pakistan Stock Exchange (PSX) came under pressure on Monday as equity investors grew nervous over developments in the Strait of Hormuz, dragging the benchmark KSE-100 index below the psychological barrier of 180,000 points.
Topline Securities Ltd said the PSX came under renewed selling pressure as escalating tensions in the Middle East dampened investor sentiment. Fresh attacks involving the US and Iran reignited concerns about a broader regional conflict, pushing international crude oil prices higher and triggering a risk-off sentiment across the market.
The benchmark KSE-100 index remained under pressure throughout the session, touching an intraday low of 2,793 points before closing at 179,927, down 2,314 points or 1.27 per cent.
The decline was further exacerbated by broad-based profit-taking after the market’s recent rally, as investors chose to lock in gains despite an otherwise supportive macroeconomic backdrop.
