KARACHI: The Pakistan Stock Exchange (PSX) opened Thursday’s session on a bearish note, with the benchmark KSE-100 index plunging 4,104 points, or 2.71 per cent, to 151,407.44 by 10:20am. The All-Share Index fell 2,243 points (2.48pc) to 90,478.35, while the KSE-30 shed 1,320 points (2.88pc). The KMI-30 dropped 6,051 points (2.76pc), and the banking index (BKTI) lost 1,325 points (3.16pc), underscoring broad-based selling pressure.
The sharp downturn at the PSX comes just a day after a bullish rally driven by hopes of de-escalation in the Iran conflict. However, US President Donald Trump’s latest speech, vowing to continue the war against Iran, has reignited geopolitical concerns. The remarks sent ripples across Asian stock markets overnight, and the PSX mirrored the regional trend with heavy selling at the open.
Analysts noted that yesterday’s optimism, fueled by expectations of a quick end to the conflict, has been replaced by caution and profit-taking. The advance–decline ratio highlights the depth of the sell-off, with autos and cement leading the decline. Institutional investors appear to be trimming positions amid renewed uncertainty.
While domestic factors such as the IMF staff-level agreement continue to provide a cushion, the overriding sentiment today is shaped by global geopolitics. Traders expect volatility to persist, with the market likely to remain sensitive to further developments in the Iran war and regional diplomacy.
Trading activity remained brisk, with over 109 million shares exchanged in 70,263 transactions, generating Rs5.45 billion in turnover. Market breadth was heavily negative, with 317 symbols declining against only 80 advancing, while 169 remained unchanged out of a total of 566.
