KARACHI – Pakistan Stock Exchange (PSX) started the week on a negative note, with the benchmark index recording a decline of more than 2,200 points during intraday trading as investors are monitoring ongoing tensions in the Middle East.
The KSE-100 current index stood at 180,012.60 points, reflecting a loss of 2,229.17 points or 1.22% compared with the previous close of 182,241.77 points.
During the session, the index moved between an intraday high of 180,494.21 points and a low of 179,448.52 points, showing continued pressure in market activity.
Trading volume remained at 108.7 million shares, indicating active participation by investors as the market adjusted to prevailing conditions.
The decline marked a weak opening for the week, with investors closely monitoring market developments and overall sentiment.
Ian’s Revolutionary Guards said they targeted US military bases in Jordan, Bahrain and Kuwait in retaliation for recent American airstrikes.
Iranian state media reported strikes on two airbases in Kuwait. Meanwhile, Bahrain activated missile alert sirens for a second time as regional tensions continued to escalate across the Gulf.
Earlier, US Central Command (CENTCOM) completed a new wave of offensive strikes against Iran, July 12, hitting dozens of targets at multiple locations with precision munitions to degrade Iran’s ability to continue attacking international shipping flowing through the Strait of Hormuz.
CENTCOM forces struck Iranian military air-defense systems, coastal radar sites, missile and drone capabilities, and small boats using U.S. fighter aircraft, naval vessels, one-way attack aerial drones, and one-way attack sea drones for the first time.
The Strait of Hormuz is a vital maritime corridor for global trade. Iran does not control it.
US forces are postured and prepared to ensure that freedom of navigation remains available to commercial shipping despite Iran’s continued unwarranted aggression, harassment, threats, and arbitrary declarations.
