Pakistan’s stock market saw a sharp decline in the first trading day of the business week, with the 100-Index plummeting by 5,957 points to 145,750. The index had closed at 1,52,907 on the previous day, indicating a significant drop in investor confidence. During the trading session, the 100-Index dipped to its lowest point of 145,712, while also touching a high of 151,813.
The decline in the stock market can be attributed to the global turmoil in the energy sector, with Iran and the US engaged in a heightened state of tension. The rising prices of crude oil in the global market have also contributed to the decline. The Australian Prime Minister, Anthony Albanese, has taken a major decision to reduce fuel prices in the country.
The South Korean Kospi Index has also seen a decline of 3.3% to 779 points, while the gold prices in Pakistan have increased, with the new price of mustard oil being set at Rs. 433.40 per liter. The notification has been issued.
The government has instructed the finance ministry to explore the possibility of purchasing oil at a lower price. The prime minister, Shehbaz Sharif, has directed the widening of the scope of the digital account. The port of Karachi has become the center of attention due to the crisis in the Middle East, with the port handling more containers in just 24 days than the total containers handled in the previous year.
The global market has seen a surge in gold prices, with the price increasing to $4,445 per ounce. The gold prices in Pakistan have also increased, but have since decreased. Experts believe that the tension in the Middle East and the situation in the Strait of Hormuz are having a direct impact on the global energy market.
Security sources have revealed that India has planned a false flag operation against Pakistan, which has led to increased tensions between the two countries. The Pakistan Super League (PSL) franchise, Lahore Qalandars, has imposed a fine of 10 million rupees on their captain.
In a separate incident, a businessman named Ammar Iqbal was injured in a firing incident and later passed away. Iran has accused Israel of attacking a desalination plant in Kuwait.
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