KSE-100 benchmark index falls sharply by 3,500 points
Banking, Energy and Fertiliser Stocks Lead Broad Selloff Amid Regional Tensions and Rising Oil Prices
Thursday was a rough day at the Pakistan Stock Exchange. The KSE-100 index fell by more than 3,500 points and closed at 152,011 points. That is a drop of 2.25% in a single day.
The market opened weak and never really found its footing. Sellers stayed in control from start to finish. There was no recovery attempt worth mentioning.
Interestingly, more people were trading than usual. Around 202.9 million shares changed hands during the session. K-Electric, WorldCall Telecom and Bank of Punjab were among the busiest stocks of the day.
Big names pulled the index down. Banks, fertiliser companies and energy stocks took the hardest hits. United Bank Limited, MCB Bank, Fauji Fertiliser, Hub Power and Pakistan Petroleum all closed in the red.
Investors were clearly nervous. The selling pressure was broad and persistent. Markets like this tend to shake confidence among smaller investors the most.
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The banks emerged as the largest negative contributor, erasing over 1,200 points from the index, followed by exploration & production, cement, and fertiliser sectors. The continued selling pressure in these key sectors underscored weakening investor confidence.
Market experts said the bearish trend was the result of ongoing regional tension and concerns over rising global oil prices.
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