PSX Crashes After Sudden Panic
Notably, 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 rates weighed on investor…
Notably, 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 rates weighed on investor sentiment.
Article outline
- What happened
- The key numbers
- The details
- Why it matters
- The bottom line
Key points
- PRL 95.12 101.21 93.01 -4.76 25, 877, 567.
- CNERGY 12.35 12.59 12.26 -0.17 23, 190, 905.
- PTC 47.07 52.49 47.03 -5.18 12, 140, 405.
- MACFL 65.83 71.0 65.83 -7.31 16, 065, 120.
- TPLP 11.28 11.71 11.1 -0.13 9, 173, 571.
For context, the index initially gained 249 points during the session before reversing sharply to touch an intraday low after losing 2, 148 points. Gulf Crisis Sends Oil Near $115.
Investors remained cautious against the backdrop of worries that higher oil rates and escalating geopolitical tensions could put further pressure on Pakistan's economic outlook.
According to Topline Securities, the lack of positive market triggers additionally 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 throughout the market. Total traded value stood at approximately Rs. 17.9 billion.
PRL was the most actively traded stock, with 25.8 million shares changing hands during the session. SCRIP PRICE HIGH LOW CHANGE VOLUME.
WTL 0.9 0.94 0.89 -0.03 22, 159, 640.
TISL 4.73 4.79 4.45 0.14 12, 014, 519.
For context, the market concluded firmly in the red, extending its recent losses as investors assessed external risks and the potential impact of higher oil costs.
Further movements in global oil markets and geopolitical developments are probable to influence investor sentiment tomorrow. Stay Connected with ProPakistani.
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For now, PSX Crashes After Sudden Panic remains the part of the story worth watching, and further updates are likely as more details are confirmed.
