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PSX loses over 2,000 points as US-Iran tensions rattle markets

PSX loses over 2,000 points as US-Iran tensions rattle markets

Web Desk
Jun 23, 2025

KARACHI: The Pakistan Stock Exchange (PSX) opened in the red on Monday and remained under pressure till midday, reacting sharply to heightened geopolitical tensions after the United States confirmed it had carried out a “successful” bombing of three nuclear sites in Iran, claiming the facilities were “obliterated.”

At around 9:37 AM, the benchmark KSE-100 index plunged 2,045.42 points to 117,977.81, with a trading volume of approximately 7 million shares. The market showed slight recovery later, hitting an intraday high of 118,798.51 by 9:57 AM, still 1,224.72 points below last week’s closing level of 120,023.23. Volumes at that point reached around 18.7 million shares.

By 12 PM, the KSE-100 was still deep in the red, down by 1,654.25 points or 1.38 per cent, standing at 118,368.98 with a volume of over 71.2 million shares.

Market sentiment remained jittery following statements from US President Donald Trump, who declared the Iran strikes a success, while the Pentagon noted that full damage assessment would take time but described the impact as “extremely severe.” Israel confirmed it had coordinated with the US, while Iranian officials acknowledged the attacks but disputed the extent of the damage.

Top performers and laggards

Despite the broader market downturn, some stocks saw gains. CJPL rose 12.64 per cent to Rs7.31, while PPVC climbed 11.16 per cent to Rs9.66. Other notable gainers included ANTM (up 10.02 per cent to Rs25.70), SZTM (up 10.01 per cent to Rs51.23), and BELA, which jumped 10 per cent to Rs119.98. FRCL, FZCM, GEMMEL, LEUL and RUPL also gained 10 per cent each.

On the flip side, CLCPS dropped 10.37 per cent to Rs2.68, followed by LSEFSL, SHCM, BNL, GEMNETS, KOHTM, MACTER, PIAHCLB and TSML, all shedding 10 per cent. SARC declined 9.77 per cent to Rs50.72.

Friday’s recap

The KSE-100 index had closed Friday’s session at 120,023.23, posting a marginal gain of 20.64 points or 0.02 per cent. It traded within a range of 956.71 points during the day, touching a high of 120,828.86 and a low of 119,872.15. Total traded volume for the index stood at 136.8 million shares.