Overview
- The United States carried out military strikes on Iran after three commercial vessels were hit in the Strait of Hormuz, and President Donald Trump declared the interim ceasefire 'over' on Wednesday, prompting an immediate market shock.
- Pakistan’s KSE-100 plunged more than 6,400 points intraday as broad selling hit banking, cement, energy and auto names.
- Indian benchmarks suffered heavy losses with the Sensex down roughly 1,600–1,700 points intraday and the Nifty falling about 500 points as selling spread across large-cap and midcap stocks.
- Brent crude surged into the mid‑$70s to high‑$70s per barrel on renewed supply‑risk fears tied to the Strait of Hormuz, while volatility measures rose and the rupee weakened as traders reassessed risk.
- Analysts warn the move could push up India’s import bill and inflation and that a reversal of recent foreign institutional buying would amplify market stress, so market flows, oil prices and corporate earnings guidance are now key near‑term variables.