KSE-100 Plunges as Pakistan Condemns US Strikes on Iran
The benchmark KSE-100 Index of PSX declined by 1639.27 points, a drop of 1.37 percent, at 11:44 am during the intra-day trading.
The KSE-100 Index plunged to 118,383.96 points, down from 120,023.23 points recorded in the previous trading session.
Nabeel Haroon, an analyst at Topline Securities, attributed the market’s decline to the rising geopolitical uncertainty.
Pakistan condemns US attacks on Iran’s nuclear sites
Meanwhile, in the international market, the price of Brent crude oil rose around 1.53% to $78.19 a barrel as of around 7.15 CEST, while WTI rose 1.48% to $74.93 a barrel.
It is worth mentioning here that President Donald Trump said the US military has attacked three Iranian nuclear sites, including the underground uranium enrichment facility at Fordo.
Pakistan strongly condemned the US attacks on Iranian nuclear facilities, as reported on Sunday.
The official statement released by the Pakistan Foreign Office stated: “Pakistan condemns the US attacks on Iranian nuclear facilities which follow the series of attacks by Israel. We are gravely concerned at the possible further escalation of tensions in the region.”
Pakistan reiterates that these attacks violate all norms of international law, and Iran has the legitimate right to defend itself under the UN Charter.
“The unprecedented escalation of tensions and violence, owing to ongoing aggression against Iran, is deeply disturbing. Any further escalation of tensions will have severely damaging implications for the region and beyond.”
Pakistan has asserted the imperative need to respect civilian lives and properties and immediately end the conflict to the end. All parties must adhere to international law, particularly international human law.”
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