The Pakistan Stock Exchange (PSX) suffered a major sell-off on Thursday, with the benchmark KSE-100 Index falling 2,006 points, or 1.21 percent, to close at 163,924 as geopolitical uncertainty and rising international oil prices weighed on investor sentiment.
The index initially gained 249 points during the session before reversing sharply to touch an intraday low after losing 2,148 points.
Investors remained cautious amid concerns that higher oil prices and escalating geopolitical tensions could put further pressure on Pakistan’s economic outlook.
According to Topline Securities, the lack of positive market triggers also contributed to the bearish trend, with selling intensifying as trading progressed.
ENGROH, UBL, HUBC, HBL, and PTC were among the biggest drags on the benchmark, collectively accounting for approximately 752 points of the KSE-100’s decline.
Trading activity remained moderate, with around 367 million shares changing hands across the market. Total traded value stood at approximately Rs. 17.9 billion.
Top Volumes
PRL was the most actively traded stock, with 25.8 million shares changing hands during the session.
| SCRIP | PRICE | HIGH | LOW | CHANGE | VOLUME |
|---|---|---|---|---|---|
| PRL | 95.12 | 101.21 | 93.01 | -4.76 | 25,877,567 |
| CNERGY | 12.35 | 12.59 | 12.26 | -0.17 | 23,190,905 |
| WTL | 0.9 | 0.94 | 0.89 | -0.03 | 22,159,640 |
| MACFL | 65.83 | 71.0 | 65.83 | -7.31 | 16,065,120 |
| PTC | 47.07 | 52.49 | 47.03 | -5.18 | 12,140,405 |
| TISL | 4.73 | 4.79 | 4.45 | 0.14 | 12,014,519 |
| TPLP | 11.28 | 11.71 | 11.1 | -0.13 | 9,173,571 |
The market ended firmly in the red, extending its recent losses as investors assessed external risks and the potential impact of higher oil prices.
Further movements in global oil markets and geopolitical developments are likely to influence investor sentiment tomorrow.
The post PSX Crashes After Sudden Panic appeared first on ProPakistani.