KARACHI, April 20 — The Pakistan Stock Exchange opened the week lower on Monday as investors reacted to uncertainty surrounding the US-Iran ceasefire and rising oil prices linked to tensions in the Strait of Hormuz.
The benchmark index fell by 1,858.89 points, or 1.07%, to 172,080.12, down from the previous close of 173,939.01, reflecting cautious sentiment driven by global geopolitical risks.
Early trading shows volatility
During early trading, the index touched a high of 174,523.76 before dropping to a low of 169,226.56 points, indicating intra-day volatility.
Trading volume reached 582 million shares, suggesting continued investor participation despite the decline.
Cautious mood among investors
Market analysts attributed the drop to profit-taking and uncertainty over global developments, particularly tensions affecting energy markets.
Investors are closely monitoring both international signals and domestic economic indicators for direction in the coming sessions.
Global markets react to Middle East developments
Oil prices rose sharply in global markets, with Brent crude gaining around 5% to $95.16 per barrel amid concerns over supply disruptions.
Stock futures in the United States and Europe declined, while Asian markets showed mixed performance. Indices in Tokyo, Seoul, and Taipei recorded gains, with Taiwan’s market reaching a record level.
Hong Kong’s Hang Seng index rose 0.8%, Japan’s Nikkei advanced 1%, and South Korea’s KOSPI climbed 1.4%.
Australia’s National Australia Bank flagged a potential $500 million impairment charge, citing increased risks linked to the conflict.
Also read: PSX posts record surge of nearly 14,000 points as KSE-100 rallies on US-Iran ceasefire
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