Dawn.com
The Pakistan Stock Exchange (PSX)’s benchmark index KSE-100 plunged by over 1,700 points on Monday amid uncertainty over the Middle East conflict. The KSE-100 declined by 1,742.31 points or 1 per cent to close at 172,196.70 from the previous close of 173,939.01 points. The KSE-100 rose to an intraday high of 174,523.76 points at around 11:55am, then declined to an intraday low of 169,226.56 points at 1:05pm, before settling at 172,196.70. The plunge comes as uncertainty surrounds whether a second round of talks between the United States and Iran will take place in Islamabad. Last week, the PSX witnessed a significant recovery amid easing geopolitical tensions in the Middle East and expectations of a softer monetary policy as declining oil prices temper inflationary pressures. The KSE-100 index rose 4pc week-on-week to close at 173,939 points, gaining 6,748 points, according to Arif Habib Ltd (AHL). Though the index surpassed its pre-war level of 168,062 on April 15 — highlighting a robust recovery in market sentiment — it remains around 15,227 points below its all-time high of 189,166.83 points recorded on January 23.
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