PSX Crashes After Sudden Panic
The Pakistan Stock Exchange (PSX) suffered a major sell-off on Thursday, with the benchmark KSE-100 Index falling 2,006 points, or … Read More The post PSX Crashes After Sudden Panic appeared first on ProPakistani .
Pakistan Stock Exchange (PSX) experienced a significant sell-off on Thursday, with the KSE-100 Index plummeting by 1.21 percent. The index declined from 165,930 to 163,924, marking the largest one-day drop since October 2021. The initial rally of 249 points was swiftly erased, leading to an intraday low of 162,782. Rising oil prices and political instability weighed on investor sentiment, causing the index to slump.
Major stocks ENGROH, UBL, HUBC, HBL, and PTC contributed significantly to the decline, accounting for roughly 752 points of the index's downturn. Trading activity was relatively subdued, with approximately 367 million shares exchanged, resulting in a total traded value of Rs. 17.9 billion. PRL emerged as the most actively traded stock, with 25.8 million shares changing hands throughout the session.
Market participants remain cautious, anticipating the impact of further global oil price fluctuations and geopolitical developments.
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