Heavy selling at the open pushed the index down by more than 15,000 points, triggering a one-hour trading halt under market regulations after the KSE-30 Index fell 5 percent from the previous close, according to a PSX notice, News.az reports, citing Xinhua.
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Trading resumed at around 10:30 a.m. local time, with the KSE-100 down 12,334.88 points, or 7.34 percent, from its previous close of 168,062.16 points. The market briefly trimmed losses to 5.45 percent by 11:07 a.m. as selective buying emerged.
However, renewed selling in the afternoon dragged the index to an intraday low of 151,747.96 points. It closed at 151,972.99 points.
Sana Tawfik, head of research at Arif Habib Limited, Pakistan’s largest security brokerage, told Xinhua that it was the largest intraday decline in terms of points.
She attributed the drop to escalating tensions in the Middle East, which have unsettled investors. Oil prices briefly crossed 80 U.S. dollars per barrel, raising concerns over Pakistan’s external account and inflation outlook.
Tawfik said higher oil and commodity prices could widen the current account deficit and add pressure on corporate margins, warning that volatility may persist until regional stability improves.
