Pakistan, June 13 -- The Pakistan Stock Exchange (PSX) took a major hit on Friday as rising tensions between Israel and Iran rattled global markets. The benchmark KSE-100 index dropped by 1,949.56 points, closing at 122,143.56. This marks a 1.57% decline, making it one of the sharpest falls in recent weeks. Investors reacted strongly to geopolitical uncertainty.

Earlier in the day, the index touched a high of 123,058.06 points but soon reversed direction. It dipped to a low of 121,604.59 points before the session closed. Trading volume remained high, with over 238 million shares traded. The total value of trades crossed Rs19.7 billion, showing high market activity despite the decline.

The sharp drop followed Israel's sudden air strikes ...