Karachi (Pasar News) – The Pakistan Stock Exchange (PSX) extended losses after briefly rallying, as investors become wary amid escalating geopolitical concerns with Iran.
During intraday trading, the KSE-100 index reached 183,717.53 owing to heavy purchasing in the early sessions before turning negative, falling 69.29 points to 182,500.52 points, compared to the previous close of 182,569.81.
International sources have warned that US military action in Iran is now inevitable and might occur within the next 24 hours, as Middle Eastern tensions rise significantly.
American, European, and Israeli officials said preparations for military action were underway as Washington began withdrawing troops from its main air base in Qatar.
Tehran has warned surrounding nations that military airfields will be attacked if Donald Trump orders a strike.
With Iran’s leadership attempting to quell the greatest domestic turmoil the Islamic Republic has ever experienced, Tehran is attempting to discourage the US president’s repeated threats to intervene on the side of anti-government protestors.
An American official claimed on Wednesday that the evacuation of Al Udeid Air Base was a precautionary measure prompted by concerns from a top Iranian official.
Meanwhile, two European sources warned military involvement was now probable, with one claiming it may occur within the next 24 hours.
The benchmark index fell 1,381.69 points, or 0.75%, to settle at 182,569.82 yesterday after ranging between an intraday high of 184,726.60 and a low of 182,369.87.
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