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Shares at the Pakistan Stock Exchange (PSX) lost more than 1,000 points on Thursday due to escalating tensions between Iran and Pakistan.
According to the PSX website, the KSE-100 index lost 770.12, or 1.21 per cent, at 10:16am to reach 62,797.21.
Mohammed Sohail, chief executive of Topline Securities, attributed the sudden downward shift to the news of escalating Pakistan-Iran tensions.
Raza Jafri, head of equities at Intermarket Securities, said: “Border tensions with Iran seem to be affecting investor sentiment, offsetting positives on the external account such a healthy current account surplus and UAE’s debt rollover.”
He added, “If this Iran issue does not escalate further, the market should find some support especially as result season is near.”
More to follow
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