PSX plummets amid mounting Iran tensions

KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) extended losses after recorded an increase for a brief period as investors seem cautious amid rising geopolitical tensions involving Iran.

During intraday trading, the KSE-100 index touched 183,717.53 due to strong buying early sessions before it turned bearish by losing 69.29 points to 182,500.52 points compared to previous close of 182,569.81.

International officials have warned that US military intervention in Iran now appears likely and could take place within the next 24 hours amid sharply escalating tensions in the Middle East.

American, European and Israeli sources said preparations for possible action were under way as Washington began evacuating personnel from its major air base in Qatar.

Tehran has warned neighbouring countries that the military airfields would be targeted if Donald Trump orders a strike.

With Iran's leadership trying to quash the worst domestic unrest the Islamic Republic has ever faced, Tehran is seeking to deter the US president's repeated threats to intervene on behalf of anti-government protesters.

An American official said on Wednesday that the evacuation of Al Udeid Air Base was a precautionary move following warnings from a senior Iranian official.

Meanwhile, two European officials said military intervention now appeared likely, with one suggesting it could come within the next 24 hours.

A day earlier, the benchmark index shed 1,381.69 points, or 0.75% to close at 182,569.82, after swinging between an intraday high of 184,726.60 and a low of 182,369.87.