Stocks tumble at PSX as escalating tensions take toll on investor sentiments

Massive selling pressure was observed at the Pakistan Stock Exchange (PSX), as the United States and ​Iran expanded attacks in the Middle East, with the benchmark KSE-100 Index shedding nearly 2,000 points during the opening minutes of trading on Monday. At 9:33am, the benchmark index was hovering at 173,812.83, down by 1,989.95 points or 1.13%. Selling was witnessed in key sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies, OMCs and power generation. Index-heavy stocks, including OGDC, MARI, PPL, POL, HUBCO, MCB, MEBL and NBP, traded in the red.