- Key Takeaways:
- Pakistan Stock Exchange’s benchmark KSE-100 index plummeted by over 1,700 points intraday.
- The decline followed a Supreme Court ruling favoring ex-Prime Minister Imran Khan’s party.
- Market opened at 79,992 points, reached 80,321 by 10 AM, but dropped sharply afterward.
The Pakistan Stock Exchange (PSX) witnessed a significant downturn today, as the benchmark KSE-100 index plunged by more than 1,700 points during intraday trading. The downturn began shortly after the mid-day break, following a Supreme Court ruling that favored the political party of former Prime Minister Imran Khan.
Starting the trading day at 79,992 points, the index briefly rose to 80,321 points by 10 AM local time. However, by mid-afternoon, the index had sharply declined to 78,611 points by 2:30 PM, marking a 2.12 percent drop equivalent to 1,710 points. By 2:50 PM, it had slightly recovered to 79,323 points, still down by 0.84 percent or 670 points. The market closed at 79,944 points, showing a marginal decline of 0.06 percent or 48 points from the previous session.
This abrupt shift in market sentiment reflects the volatility and sensitivity to political developments in Pakistan’s financial markets.
