Karachi, Pakistan – Web Desk: The Pakistan Stock Exchange (PSX) opened lower on Monday as investors remained cautious over the uncertain future of the US-Iran ceasefire and rising tensions around the Strait of Hormuz.
The benchmark index declined by 694.68 points, or 0.4%, to 173,244.33 in early trading, compared to the previous close of 173,939.01. During the session, the market touched a high of 173,455.99 and a low of 170,625.96.
Trading activity remained steady, with around 74.4 million shares exchanged, reflecting continued investor participation despite cautious sentiment.
Market analysts attributed the dip to mild profit-taking and uncertainty surrounding geopolitical developments, particularly tensions in the Middle East that could impact global energy supplies and economic stability.
In global markets, oil prices surged amid concerns over restricted shipping routes in the Gulf region. Brent crude rose approximately 5% to $95.16 per barrel, while US stock futures linked to the S&P 500 fell by around 0.6%, and European futures declined by 1.1%.
However, Asian markets showed resilience. Japan’s Nikkei 225 rose 1%, Hong Kong’s Hang Seng Index gained 0.8%, and South Korea’s KOSPI advanced 1.4%, with Taiwan stocks hitting record highs.
Meanwhile, National Australia Bank (NAB) warned of a potential $500 million impairment charge, citing concerns that ongoing conflict could increase bad debts.
Investors are now closely watching geopolitical developments and economic indicators for clearer direction in both local and global markets.
