Pakistan benchmark KSE-100 index fell nearly 10 percent on Monday amid escalating geopolitical tensions in West Asia and the country’s ongoing military operation against Afghanistan, denting investor sentiment.
The index was at 151,798.54 at around 2:15 pm, down 9.68 percent. It touched an intraday low of 151,747.95, marking a decline of 9.7 percent.
The KSE-30 index also dropped 9.8 percent during the session. Trading was halted for an hour following the sharp fall. After resumption, the KSE-30 pared some losses to trade 7.3 percent lower.
The decline was seen amid unrest across the country following US-Israel strikes on Iran. At least 35 civilians were reportedly killed after protests erupted in multiple cities. Demonstrations held near United States diplomatic missions turned violent in multiple places.
According to local media reports, at least 12 Pakistani protesters were killed and over 30 others injured in firing by United States Marine security personnel during clashes outside the United States Consulate in Karachi on Sunday.
Prime Minister Shehbaz Sharif chaired a high-level meeting to review the regional and internal security situation in view of the recent developments in Iran and the ongoing military operation against Afghanistan.
Sharif also postponed his planned visit to Russia amid the prevailing global tensions.
Attacks by the United States and Israel from Saturday killed Iran's Supreme Leader Ali Khamenei, provoking retaliatory Iranian strikes on Israel and other countries, including Gulf nations hosting U.S. military bases.
U.S. President Donald Trump signalled the U.S.-Israeli military assault could continue for weeks.
(With inputs from Reuters)
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