Shares of the Pakistan Stock Exchange (PSX) fell over 350 points on Thursday due to rising tensions between Iran and Pakistan.
According to the PSX website, the KSE-100 index fell by about 1,38 points at 10:08 am today. At 10:31 am, the index rose to 62,797.21 decimal points. By 3:34 PM, it was 63 thousand 202.40 points, which is 364.93 points less than yesterday. Yesterday the index ended at 63 thousand 567.33 decimal points.
Mohammad Sohail, chief executive of Topline Securities, told Dawn that the stock market has suddenly fallen on the news of increasing Pakistan-Iran tensions.
Iran’s state media reported that on Tuesday, Iran launched an attack on Pakistan targeting the base of Jaish al-Adl in Balochistan’s border town of Panjgur.
Then in a statement this morning, Pakistan said that it had attacked the hideouts of terrorists in Iran’s Sistan and Balochistan provinces.
“Border tensions with Iran seem to have weighed on investor sentiment,” said Raja Jafri, head of equities at Intermarket Securities.
Yusuf M Farooq, director of research at Chase Securities, said, “The stock market has reacted negatively to fears of Pakistan’s counter-attack on Iran and possible escalation of tensions.”
Meanwhile, the international bonds of Pakistan have also collapsed due to the tension with Iran, according to the report of Dawn.
The 2026 bond was the biggest loser, trading 1.2 cents lower at 71.125 cents on the dollar, according to Tradeweb data.