Business
PSX opens lower as the US-Iran accord is delayed.
Pakistan Stock Exchange (PSX) kicks-off new business week on sour note as Middle East tensions increase.
In opening session, KSE-100 index tumbled 855.34 points to hit 173,107.47 points, indicating negative change of 0.49 percent compared to previous finish of 173,962.81.
Oil prices jumped more than 2 percent in the meanwhile as Iran and the US exchanged strikes and Israel authorised soldiers to push farther into Lebanon in the fight with the Tehran-backed Hezbollah militant group.
U.S. oil futures increased $2.29, or 2.62%, to $89.65 a barrel at 0436 GMT. Brent futures gained $2.05 or 2.25% to $93.17 a barrel.
The stepped-up fighting, coming just after the U.S. hosted Israel-Lebanon peace talks in Washington on Friday, clouded expectations that the U.S. and Iran could soon announce an extension to their ceasefire agreement, which had pushed Brent and WTI to settle down 1.8% and 1.7% respectively on Friday.