<\/p>\n
Shares at the Pakistan Stock Exchange (PSX) lost more than 350 points on Thursday due to escalating tensions<\/a> between Iran and Pakistan.<\/p>\n According to the PSX website<\/a>, the KSE-100 index lost around 1,038 points at 10:08 am. At 10:31am, the index climbed to 62,797.21. By 3:34pm, it recovered to 63,202.40, or 364.93 points below the previous close of 63,567.33.<\/p>\n Mohammed Sohail, chief executive of Topline Securities, attributed the sudden downward shift to the news of escalating Pakistan-Iran tensions.<\/p>\n Iran on Tuesday had laun\u00adched<\/a> attacks in Pakistan targeting what it described as bases for the militant group Jaish al-Adl in the border town of Panjgur in Balochistan, Iranian state media reported, prompting strong condemnation from Islamabad and downgrading of diplomatic ties.<\/p>\n In a statement<\/a> issued early morning today, Pakistan said it had struck terrorist hideouts in Iran\u2019s Siestan-o-Baluchistan province.<\/p>\n Raza Jafri, head of equities at Intermarket Securities, said: \u201cBorder tensions with Iran seem to be affecting investor sentiment, offsetting positives on the external account such a healthy current account surplus and UAE\u2019s debt rollover.\u201d<\/p>\n He added, \u201cIf this Iran issue does not escalate further, the market should find some support especially as result season is near.\u201d<\/p>\n Yousuf M. Farooq, director of research at Chase Securities, said: \u201cThe stock market responded unfavourably to Pakistan\u2019s retaliatory attack on Iran and concerns of potential escalation.\u201d<\/p>\n However, he added that the market has experienced a modest recovery from the low of 1,038 points. The recovery was supported by robust current account numbers, the rollover of debt from the UAE, and a tranche release<\/a> by the International Monetary Fund (IMF).<\/p>\n He said that investors anticipate a diplomatic resolution to the issue, and a 1pc decline on the downside is not indicative of panic among investors \u201cat least in the first hour of trading\u201d.<\/p>\n Meanwhile, the country\u2019s international bonds fell after the foreign ministry said it conducted strikes inside Iran, two days after Tehran said it had attacked the bases of a group within Pakistani territory.<\/p>\n The 2026 bond suffered some of the biggest declines, dropping 1.2 cents to trade at 71.125 cents in the dollar, data from Tradeweb showed.<\/p>\n Additional information from Reuters<\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Shares at the Pakistan Stock Exchange (PSX) lost more than 350 points on Thursday due to escalating tensions between Iran and Pakistan. According to the PSX website, the KSE-100 index lost around 1,038 points at 10:08 am. At 10:31am, the index climbed to 62,797.21. By 3:34pm, it recovered to 63,202.40, or 364.93 points below the […]<\/p>\n","protected":false},"author":2,"featured_media":49454,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/i.dawn.com\/large\/2024\/01\/18160737918e491.png?r=160752","fifu_image_alt":"","footnotes":""},"categories":[10],"tags":[],"class_list":["post-49453","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\tPakistan international bonds fall more than 1 cent<\/h2>\n