PSX Index Plunges 718 Points Amid US-Iran Tensions, Higher Oil Prices

The Pakistan Stock Exchange (PSX) saw its KSE-100 index plummet by 718.25 points, or 0.42%, on Friday as renewed US-Iran tensions and higher oil prices dampened investor sentiment.

The decline left the index testing its 200-day moving average, a level that has provided reliable support in recent months. Markets now look ahead to the State Bank's policy meeting next week, where rates are expected to remain unchanged amid fluid global conditions.

Arif Habib Limited (AHL) noted that the KSE-100 closed down by 718 points and extended its weekly decline to 2.72% while trading below the 170,000 level. The benchmark index has now fallen 10% from its July peak and is once again testing its 200-day moving average.

The top negative contribution to the index came from UBL, NBP, Systems Ltd, HBL, and Fauji Fertiliser as they cumulatively wiped off 436 points. Topline Securities observed that crude oil prices surged to around $100 per barrel during intra-day trading, leading to a sharp decline in investor sentiment.