KSE-100 plunges 3,856 points amid escalating geopolitical tensions

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KARACHI: As the geographical political tension on the Iran-Israeli conflict increased, the Pakistan Stock Exchange (PSX) saw the sale of panic and started on a bad note on Saturday. Benchmark KSE-100 Index fell 3,856 points.

KSE -100 fell 3,855.77 points, or 3.21 percent, 116,167.47 points, less than 120,023.24 points recorded in the last session. The highest index of the day was 118,798.52 points, while the lowest level was recorded at 115,887.49 points.

Arif Habib Corporation analyst Ahsan Mahanti said the growing tension in the Middle East gave rise to global equity self and stock shortage. He said that high inflation and thin export approach to supply barriers to supply of US invasion of Iran played a role in selling activity in sales in PSX.

The KSE -30 index decreased by 1,125.88 points or 3.08 percent by 35.533.23 points to 35,407.35 points. Shares of trade increased 174 million shares to 421.643 million shares from 595.01 million shares. The commercial value increased from Rs 15.488 billion to Rs 23.488 billion. Market Capital is limited to Rs 14.063 trillion as compared to Rs 14.536 trillion. Of the 468 companies operating in the session, 56 were closed in green, 386 in red and 26 changed.

Topline Securities analyst Naveed Nadeem said that PSX tested a suppressed trading session according to the cautious temperament seen in the global markets. He said the geographical political tensions, especially the intense conflict between Iran and Israel, which resulted in the uncertainty and the massive threat of investors. This panic stimulates the sale of wide -ranging panic.

Large indexes, including Engroo, PPL, Luck, Luck, OGDC and Mari, were included in the top houses, together with the index dragging by 1,054 points. The highest increase in Philip Morris (Pakistan) Limited was recorded, which led to spinning, which increased from Rs 35.38 to Rs .136.01 to RSS1,136.01 to RS1,136.01 to RS1,136.01. RSS21.26 to Rs 3335.17 per share. A significant reduction was noted in PIA Holding Company Limited B, which was reduced by Rs 1,115.38 to Rs 10,038.45 per share, after which the Unilateral Pakistan Foods Limited closed to Rs 22,900 to Rs 22,900.

JS Global Analyst Mubashir Anis Navala said PSX suffered heavy losses during the sale of panic and the index failed to recover throughout the session. The rapid reduction reflects the uncertainty and the fear of external pressure. He advised, “We advise investors to be careful, who focus on risk management and election deposits.”

The World Calle Telecom was the volume leader with 53.303 million shares, which closed 10 money per share for Rs 1.35 per share. Sui South Gas, with 35.996 million shares, followed it, which closed at Rs 38.80 per share to less than Rs 4.20. One of the major businesses includes Pervez Ahmed Company, K Electric Limited, Kohnor Spinning, Fuji Cement, Kinnijico PK, Maple Leaf, Duan Santin. Trade, of which 9 increased and 309 declined.

According to Reuters, on the contrary, most Gulf stock markets closed on Monday, with oil prices rising as investors monitored the results of US airstrikes in Iran’s nuclear locations. Before taking advantage of the oil, it was briefly reached a five -month height, in which traders launched an Iranian potential retaliation that could disrupt global raw flow through the Strait Harmos.

Saudi Arabia’s benchmark index increased by 1.3 %, which is driven by the benefits of El Rajhi Bank (+1.6 %) and Saudi National Bank (+1.5 %). The Dubai index increased by 1.1 %, which was endorsed by Amir Properties (+2.8 %) and Dubai Islamic Bank (+1.8 %). Abu Dhabi and Qatar indicators increased by 0.5 %. Meanwhile, the Gulf states remained on the warning, emphasizing control. There are no signs of nuclear pollution by Saudi or United Arab Emirates authorities. Outside the Gulf, Egypt’s central index increased by 1.2 %, leading to a 7.2 % increase in EFG holding.