The Pakistan Stock Exchange’s benchmark KSE-100 index declined by nearly 1,000 points on Tuesday over tensions in the Middle East.
The KSE-100 index dropped by 1,904.31 points, or 1.10 per cent, to stand at 171,731.76 points at 1:39pm from the previous close of 173,636.07.
The market reached an intraday low of 171,490.63 points at around 1:30pm. It then recovered some midday losses to close at 172,642.16 points, still 993.91 points (0.57pc) lower than the previous close.
Awais Ashraf, director of research at AKD Securities, noted that the “prolongation of tensions” between the United States and Iran was weighing on investor sentiment.
“Moreover, the increase in oil prices is also adding to the pressure,” he added.
