KARACHI: The Pakistan Stock Exchange (PSX) suffered a sharp decline on Friday due to increased geopolitical uncertainty stemming from the conflict between Iran and Israel.
The PSX-100 index fell 1,444 points in the first half of the trading day, closing the session at 122,649 points. Earlier, the market had fallen to 121,604 points, a decline of 2,488 points, before recovering slightly.
Despite the steep losses, trading activities remained strong, with over 400 million shares being exchanged, worth a total of around Rs. 16.50 billion.
Earlier this week, the PSX hit a record intraday high of 126,000 points on strong investor confidence. However, Thursday’s session closed at 124,093, indicating a cooling off from the peak.
Today’s sharp correction suggests more caution among investors as they monitor developments in the Middle East.
