Bloodbath at PSX as KSE-100 plummets over record 16,000 points

Karachi: The Pakistan Stock Exchange (PSX) witnessed massive selling on Monday as the benchmark KSE-100 Index plunged nearly 10% amid escalating geopolitical tensions in the region.

Selling pressure gripped the PSX from the start of trading. By 9:22am, the benchmark index plunged to 152,991.15, down by 15,071.01 points or 8.97%.

Following the nearly 9% drop, trading activity at PSX was halted for one hour.

“All TRE Certificate Holders are hereby informed that due to a 5% decrease in the KSE-30 index from the previous trading day’s close of the same, a Market Halt has been triggered as per PSX Regulations, and all equity-based markets have been suspended accordingly,” read the notice.

Following the resumption of trading around 10:22am, strong recovery momentum emerged, pushing the index rapidly higher by over 6,000 points, hitting an intraday high of 159,328.59.

However, selling pressure intensified in the final hours of trading.

At close, the KSE-100 settled at 151,972.99, a decrease of 16,089.17 points or 9.57%.