There was a bloodbath at the Pakistan Stock Exchange (PSX) on Monday as investors anxiously waited to see if Iran would retaliate against the US weekend attacks on its nuclear sites, reported 24NewsHDTV Channel.
The PSX’s benchmark KSE-100 plunged by 3,855.76 points or minus 3.32 points to reach 116,167.47 points at the end of trading amid rising uncertainty in the Middle East.
The decline came in the wake of renewed regional instability after the United States launched airstrikes on Iranian nuclear facilities, sharply escalating the already-tense Iran-Israel conflict.
The development triggered a wave of risk aversion among investors at the PSX amid fears of a broader Middle East war.
Of 467 companies traded today, share prices of 56 companies were up, 385 were down while 26 remained unchanged.
On Friday, the KSE index had gained a meagre 20.65 points, a positive change of 0.02 percent, and closed at 120,023.24 points.
Meanwhile, oil prices jumped on Monday to their highest since January as the United States' weekend move to join Israel in attacking Iran's nuclear facilities stoked supply concerns.
Brent crude futures were up $1.52 or 1.97% to $78.53 a barrel as of 0503 GMT. US West Texas Intermediate crude advanced $1.51 or 2.04% to $75.35.
Both contracts jumped by more than 3% earlier in the session to $81.40 and $78.40, respectively, touching five-month highs before giving up some gains.
The rise in prices came after US President Donald Trump said he had "obliterated" Iran's main nuclear sites in strikes over the weekend, joining an Israeli assault in an escalation of conflict in the Middle East as Tehran vowed to defend itself.
Reporter Kavish Memon