PSX Opening Bell: Red Dawn

The Pakistan Stock Exchange (PSX) opened the week on a sharply negative note, with the benchmark KSE-100 Index extending last week's losses as investors reacted to a fresh escalation in geopolitical tensions in the Middle East. Market sentiment remained under pressure after the United States and Iran exchanged fresh military strikes in an escalating contest over control of the Strait of Hormuz, triggering a sharp rise in global oil prices and renewing concerns over energy supplies and regional stability. Oil was last trading 4.05% higher at $79.09 per barrel, adding to risk aversion across financial markets. As of 9:36am, the benchmark KSE-100 Index was at 179,448.52, down 2,793.25 points or 1.53%.