The PSX KSE-100 index crash rattled investors as the benchmark plunged nearly 10% during intraday trading on Monday.
Selling pressure dominated from the opening bell. By 9:22 am, the KSE-100 had fallen to 152,991 points, down 15,071 points or 8.97%. The sharp drop triggered an automatic trading halt under Pakistan Stock Exchange rules.
PSX KSE-100 Index Crash Triggers Trading Halt
Trading resumed after about an hour. The index briefly recovered to 159,328 points, but the rebound did not last. By 1:25 pm, the benchmark slipped further to 151,822 points, marking an almost 10% decline for the day.
The downturn was broad-based. Major sectors, including banking, cement, oil and power, witnessed heavy selling. Key stocks such as HBL, MCB, MEBL, MARI, OGDC, POL, PPL, HUBCO and ARL recorded sharp losses.
The sell-off followed last week’s decline, when the KSE-100 dropped 5,107 points or 2.9% to close at 168,062 points. Investors remained cautious amid escalating regional tensions involving Iran, Israel and the United States.
Oil Prices Add to Market Pressure
At the same time, global oil prices surged amid fears of supply disruptions. The Strait of Hormuz, a key corridor for global energy trade, handles nearly a fifth of the world’s seaborne oil and liquefied natural gas.
Read: PSX Trading Halted as KSE-100 Plunges 15,000 Points
Rising oil prices can increase inflationary pressure in Pakistan. Higher energy costs may raise the cost of living and increase businesses’ operating expenses.
Market participants are closely monitoring geopolitical developments and energy prices, as both factors are likely to influence short-term market direction.
