karachi
\nStocks came under pressure on Monday as uncertainty over a US-Iran peace deal and the upcoming federal budget kept investors cautious, with global markets also weighed down by renewed Middle East tensions.
\nThe Pakistan Stock Exchange\u2019s (PSX) benchmark KSE-100 Index settled at 170,600.20 points, down 3,362.61 points, or 1.93%, from the previous close of 173,962.81.
\nDuring the session, the index touched an intraday high of 174,171.64, gaining 208.83 points, or 0.12%, and a low of 170,396.85, down 3,565.96 points, or 2.05%, from the previous close.
\n\u201cThe market is choppy due to constant swings in the US-Iran deal. We need to hear tangible announcements of the deal in the next few days for the market to pick the direction,\u201d said AAH Soomro, an independent investment and economic analyst.
\n\u201cBudget-related uncertainty will ensue next week,\u201d he added.
\nEuropean shares slipped on Monday as heightened tensions in the Middle East tempered hopes for an imminent end to the conflict.
\nIran\u2019s chief negotiator warned Sunday that Tehran would not trust Washington or agree to any deal unless its rights were fully secured, underlining the gap between the two sides as talks drag on.
\nReports that US President Donald Trump had sent back a tougher proposal further complicated negotiations, raising the risk of delays to any agreement to formally end the war and reopen the Strait of Hormuz, through which about a fifth of global crude transits in peacetime.
\nWhile both sides continue to exchange proposals, key sticking points remain, including Ira\u2019s nuclear programme, demands for sanctions relief and the future of shipping through the vital waterway.
\nThe stalled progress has left markets sensitive to developments, with oil prices edging higher as uncertainty around supply flows continues.
\nMarket participants are also expected to remain cautious ahead of the federal budget announcement as they await greater clarity on fiscal and taxation measures.
\nOn the external front, the country\u2019s total liquid foreign reserves rose by $58 million to $22.646 billion. However, reserves held by commercial banks fell by $8 million to $5.499 billion.
\nPakistan\u2019s foreign exchange reserves have been rising steadily, supported recently by loan disbursements of $1.3 billion from the International Monetary Fund under the Extended Fund Facility and the Resilience and Sustainability Facility, along with $250 million from the issuance of panda bonds.
\nIn the previous session on Friday, the KSE-100 Index gained 2,237.52 points, or 1.3%, to close at 173,962.82.
\nThe PSX ended the holiday-shortened week on a strong note, with the benchmark KSE-100 Index gaining 6,119 points, or 4.0%, week-on-week. According to Topline Securities, the index gained 6.7% on a month-on-month basis.<\/p>\n","protected":false},"excerpt":{"rendered":"
karachi Stocks came under pressure on Monday as uncertainty over a US-Iran peace deal and the upcoming federal budget kept investors cautious, with global markets also weighed down by renewed Middle East tensions. The Pakistan Stock Exchange\u2019s (PSX) benchmark KSE-100 Index settled at 170,600.20 points, down 3,362.61 points, or 1.93%, from the previous close of …<\/p>\n","protected":false},"author":4,"featured_media":60240,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-98438","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/98438","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=98438"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/98438\/revisions"}],"predecessor-version":[{"id":98454,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/98438\/revisions\/98454"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/60240"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=98438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=98438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=98438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}