PSX's KSE-100 Index loses over 1000 points as US-Iran tension grips markets in Asia  

• KSE-100 Index plunged to negative zone right from the opening, losing over 800 points in the first half of the day.
• Global tensions have escalated in recent days after Iran’s top military commander was killed in an U.S. airstrike in Baghdad, which raised concerns of retaliation from Iranian forces.

Pakistan Stock Exchange (PSX) was in the red zone on Monday, after the benchmark KSE-100 Index lost over 1000 points amid the escalating tension in the Middle East.

At the time of filing this report, the Index was being traded at 41,291.75 points witnessing a decline of 1,031.55 points, showing a negative percentage change of 2.44 percent. The Index plunged to the negative zone right from the opening, losing over 800 points in the first half of the day.

Global tensions have escalated in recent days after Iran’s top military commander was killed in an U.S. airstrike in Baghdad, which raised concerns of retaliation from Iranian forces. The Iranian government then announced that it would be scrapping the 2015 nuclear deal, which the U.S. unilaterally withdrew from in 2018.

Furthermore, the Iraqi parliament passed a resolution calling for the government to expel foreign troops from the country, following the U.S. airstrike carried out on its soil, leading to reaction from US President Donald Trump threat to impose sanctions on the war waged country.

The three top traded companies were K-Electric Limited with a volume of 43,703,000 and price per share of 4.55 (-0.07), Unity Foods Limited with a volume of 17,505,500 and price per share of 15.59 (-1.00), The Bank of Punjab with a volume of 16,319,500 and price per share of 11.50 (-0.35).

The top three advancers were Mian Textiles Industries Limited with a volume of 459,000 and price per share of 7.60 (1.00), Tri-Star Power Limited with a volume of 943,000 and price per share of 4.50 (0.57), Sally Textile Mills Limited with a volume of 1000 and price per share of 4.00 (0.50).

The top three decliners were First National Bank Modarba with a volume of 500 and price per share of 0.92 (-0.28), Tri-Star Mutual Fund Limited with a volume of 500 and price per share of 3.65 (-0.82), Premier Insurance Limited with a volume of 2,000 and price per share of 5.21 (-0.99).

Most markets in Asia fell on Monday following heightened geopolitical tensions in the Middle East.

Japan’s benchmark Nikkei 225 declining 1.91pc to close at 23,204.86 while the Topix index was down 1.39pc to 1,697.49. In South Korea, the Kospi index fell 0.98pc to 2,155.07. Hong Kong’s Hang Seng index was down 1.11pcin afternoon trade.

KSE-100 declined by 157.46 points or 0.37 percent and closed at 42,323.30 points, on Friday.