US Edition
Nasdaq Set to Snap 13-Day Winning Streak as Oil Rebounds, US-Iran Tensions Resurface
Investor caution over U.S.-Iran tensions dragged the benchmark down as 1,296 million shares changed hands, analysts said.
- On Monday, the Pakistan Stock Exchange benchmark KSE-100 index plunged 1,742 points, or 1%, settling at 172,196.70 and erasing recent momentum.
- Market sentiment soured following the U.S. seizure of an Iranian-flagged cargo vessel in the Strait of Hormuz, casting doubt on a two-week ceasefire agreement.
- Brent crude prices spiked near $97-98 per barrel, contributing to weakness, while index-heavy stocks including Habib Bank Limited and Hub Power Company Limited faced significant selling pressure.
- The Bank of Punjab led the volume chart with 120 million shares traded, while 319 stocks fell and 138 rose amid the cautious atmosphere.
- Analysts suggest future peace negotiations remain key for market recovery, while reports of Vice President JD Vance traveling to Pakistan were countered, as officials confirmed he remained in the U.S.
12 Articles
12 Articles
PSX commences week with 1% slide
The Pakistan Stock Exchange (PSX) commenced the week with a stark downturn on Monday, as the benchmark KSE-100 index succumbed to selling pressure, shedding nearly 1,750 points to close around 172,200. The 1% decline effectively wiped out the recent momentum, largely driven by a cautious global atmosphere and escalating geopolitical tensions. At the close of trading, the KSE-100 posted a loss of 1,742.31 points, or 1%, and settled at 172,196.70.…
Market Pulse: Tensions with Iran Loom Over U.S. Stock Gains
Market Pulse: Tensions with Iran Loom Over U.S. Stock Gains U.S. stocks experienced minor setbacks on Monday, despite the three major indexes enjoying a third consecutive week of gains. The slide came as renewed tensions between the U.S. and Iran cast doubt on the reliability of a two-week ceasefire agreement.Iran is pondering peace talks with the U.S. in Pakistan, according to a senior Iranian official. This potential shift follows Pakistan's m…
US Stock Market: US stocks closes slightly down on renewed tensions between US, Iran
U.S. stocks edged lower as renewed U.S.-Iran tensions cast doubt on a ceasefire, despite Iran considering peace talks. Oil prices surged as the Strait of Hormuz was intermittently closed. Investors are now assessing the impact of these geopolitical events on corporate earnings and the broader economy.
Nasdaq set to snap 13-day winning streak as oil rebounds, US-Iran tensions resurface
US tech stocks declined on 20 April amid renewed tensions between the US and Iran, leading to a rebound in crude oil prices. The Nasdaq 100 faced a potential end to its 13-day winning streak, while other indices also saw losses as peace talks remained uncertain.
Iran could take part in negotiations with the US, Vance is already on its way. Oil prices are still rising, but investors are likely to be particularly interested in a stock exchange date.
PSX plunges over 1,700 points amid Middle East tensions
The Pakistan Stock Exchange (PSX)’s benchmark index KSE-100 plunged by over 1,700 points on Monday amid uncertainty over the Middle East conflict. The KSE-100 declined by 1,742.31 points or 1 per cent to close at 172,196.70 from the previous close of 173,939.01 points. The KSE-100 rose to an intraday high of 174,523.76 points at around 11:55am, then declined to an intraday low of 169,226.56 points at 1:05pm, before settling at 172,196.70. Accord…
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