Massive selling hits major sectors as investors react to local and global instability
KARACHI: The Pakistan Stock Exchange (PSX) witnessed a historic collapse on Monday as the benchmark KSE-100 Index plummeted 15,071 points, closing at 152,991.15 amid broad-based selling triggered by rising geopolitical tensions. Trading was temporarily suspended under PSX regulations following the steep decline.
The sell-off affected major sectors including automobiles, cement, banks, fertilizers, oil and gas, and power. Heavyweights like HBL, MCB, MEBL, MARI, OGDC, POL, PPL, HUBCO, and ARL all recorded sharp losses. Analysts attributed the crash to both local security concerns and the ongoing IMF discussions with the Ministry of Finance, which began on Monday.
The downturn followed a challenging week, where the KSE-100 Index had already shed 5,107 points, closing at 168,062. Global markets mirrored the instability: oil prices surged on fears of prolonged Middle East conflicts, gold advanced as a safe haven, and Asian equities broadly declined. Investor attention remains on the Strait of Hormuz, where tanker traffic has slowed amid security concerns, affecting global energy flows.
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