PSX plunges as KSE-100 index drops over 11,000 points

The stock market in Pakistan dropped sharply on Monday due to uncertainty and rising tensions in the region. The main index at the Pakistan Stock Exchange fell by more than 11,000 points during trading.

At the end of the day, the KSE-100 Index closed at 146,480.14 points, showing a decline of 11,015.96 points, or 6.99 percent. Trading was temporarily suspended after the market dropped by 6 percent, which triggered the market’s safety mechanism.

Selling pressure was seen in many major sectors, including automobile companies, cement, commercial banks, oil and gas exploration firms, oil marketing companies, power generation companies, and refineries. Major companies such as **MCB Bank, Meezan Bank, National Bank of Pakistan, Mari Petroleum Company, Oil and Gas Development Company, Pakistan Petroleum Limited, Pakistan State Oil, Sui Northern Gas Pipelines Limited, Sui Southern Gas Company, and Hub Power Company all recorded losses.

The market had already been under pressure last week. The KSE-100 Index dropped 10,566 points, or 6.3 percent, during the week. It closed at 157,496.09 points, compared to 168,062.17 points the week before.

At the same time, global oil prices also increased sharply. Prices jumped by more than 25 percent, reaching their highest level since 2022. The rise came after some major oil producers reduced supply and concerns grew about shipping problems linked to the conflict involving the **United States, Israel, and Iran.

Energy markets are especially worried because the crisis is happening near the Strait of Hormuz, an important route through which about 20 percent of the world’s oil supply normally passes.