Mohsin Siddiqui (Chief Reporter)

The benchmark index had partially recovered, settling at 62,846.53, reflecting a decrease of 720.80 points or 1.13%. This downturn affected various sectors, with cement, chemical, commercial banks, fertilizer, oil and gas exploration companies, OMCs, and power generation witnessing negative trends.

The negativity in the market is attributed to the rising tensions between neighboring Pakistan and Iran, causing concern among investors. According to experts, the selling pressure is a direct consequence of the heightened geopolitical situation.

The Ministry of Foreign Affairs (MOFA) released a statement on Thursday morning, revealing that Pakistan had conducted a series of coordinated and targeted precision military strikes against terrorist hideouts in the Siestan-o-Baluchistan province of Iran. The operation, codenamed ‘Marg Bar Sarmachar,’ resulted in the elimination of several terrorists, as confirmed by MOFA.

This military response from Islamabad followed an earlier strike by Iran within Pakistani territory, which reportedly led to the tragic death of two innocent children and injuries to three girls. The Ministry of Foreign Affairs condemned this violation of Pakistan’s sovereignty, emphasizing the potentially serious consequences it could entail.

Furthermore, these developments contribute to the ongoing regional crises, including Israel’s aggression in Gaza and the pro-Palestinian Houthis’ attacks on commercial vessels in the Red Sea.