PSX Drops on Iran Tensions as KSE-100 Falls Over 1%

PSX  – (Web Desk) – Pakistan’s stock market took a hit on Monday. PSX drops on Iran tensions as fresh Middle East escalation rattled investor confidence across the board.

The KSE-100 Index hit an intraday low of 168,432.45, falling 2,046 points or 1.2% from the previous close of 170,478.94. At one point, the index briefly touched 169,360.54 before sliding further.

Arif Habib Commodities CEO Ahsan Mehanti said pre-budget uncertainty and fears of a crude oil price surge added to the selling pressure. He also warned that a possible interest rate hike played a key role in pushing investors toward the exit.

Brent crude surged over $3 a barrel on Monday, jumping 3.39% to $96.24. US crude also rose 3.17% to $93.41. The gains came after Israel launched fresh strikes on Lebanon, followed by reports of explosions in Tehran, Tabriz, and Isfahan.

Iran fired missiles at Israeli targets on Sunday in retaliation. Despite the escalation, US President Donald Trump said a deal to end the wider conflict was still within reach. He also reportedly asked Israeli PM Benjamin Netanyahu to hold back on further strikes.

Asian markets felt the heat too. South Korea’s KOSPI dropped 5%, Japan’s Nikkei fell nearly 4%, and Taiwan’s benchmark declined 3.9%. Weak chipmaker outlook and a strong US jobs report added further pressure on global equities.

In the previous session on Friday, KSE-100 had already shed 696 points, closing at 170,478.94.