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.”
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