The Pakistan Stock Exchange (PSX) started the week on a negative note as the benchmark KSE-100 Index dropped sharply on Monday.
At the end of trading, the index closed at 146,842.97 points, down by 4,864.54 points, or 3.21%.
Selling pressure was seen in many major sectors, including automobiles, cement, banks, oil and gas, power, and refineries. Big companies like ARL, HUBCO, MARI, OGDC, PPL, HBL, MEBL, MCB, and NBP all ended the day in the red.
Last week, the market remained unstable and did not show a clear direction. Rising regional tensions, changes in global oil prices, and strict monetary policies affected investor confidence. The index had already fallen by 1,032 points during the previous week.
On the global side, oil prices continued to rise. Brent crude increased by $3.94 (3.5%) to reach $116.51 per barrel. Meanwhile, US West Texas Intermediate crude also went up by $1.86 (1.87%) to $102.14 per barrel.
The increase in oil prices is linked to growing tensions in the Middle East, including recent attacks by Yemen’s Houthis on Israel, which have added uncertainty to global markets.
