KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) started the week in the red as investor sentiment remained cautious amid rising tensions in the Middle East.
The KSE-100 index shed 715.91 points during intraday trading to drop to 149,682.80 points, marking a negative change of 0.48 percent compared to previous close of 150,398.71 points.
On the global front, oil prices rose while stocks were mixed on Monday after US President Donald Trump warned of "hell" for Iran unless it reopens the Strait of Hormuz by his self-imposed deadline, but a report of a push for a ceasefire appeared to ease some nerves.
Trump's repeated threats to destroy civilian infrastructure including power plants and bridges if the vital waterway is not open by Tuesday have put traders on edge for reciprocal attacks by Iran on targets in the Gulf states.
With liquidity thin as many countries around the region observed Easter Monday holidays, S&P 500 e-mini futures fluctuated between gains and losses, down 0.1%, while MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 0.3%. The Nikkei 225 (.N225) rose 1.3%, as South Korea's Kospi (.KS11) advanced 0.9%.