By S.M. Inam
KARACHI: Pakistan’s stock market witnessed its worst opening in history on Monday following the US and Israeli strikes on Iran, as investor panic spread across global markets.
The benchmark KSE-100 Index fell sharply by 13,209 points during trading, closing at 154,852. The market faced heavy selling pressure right from the opening bell, pushing the index down further to 152,940 points after an initial drop of 15,121 points. At one point, the KSE-100 hit a low of 152,717 points.
The KSE-30 Index declined by 9.42 percent, triggering a temporary suspension of trading for 45 minutes. The market reopened at 10:27am as volatility persisted. By comparison, the KSE-100 had closed at 168,062 points at the end of last week.
Global markets also reacted to rising tensions in the Middle East. Japan’s Nikkei 225 fell 1 percent to 58,264 points, with the broader market down 1.9 percent. South Korea’s stock market dropped 2 percent. In India, the Bombay Stock Exchange Sensex lost 967 points to 80,320, while the Nifty 50 fell 213 points to 24,965.
The unprecedented downturn underscores the ripple effects of regional conflict on investor confidence and financial markets worldwide.
#PakistanStockExchange #KSE100 #MarketCrash #IranUSIsraelCrisis #GlobalMarkets
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