KARACHI: The Pakistan Stock Exchange (PSX) witnessed a sharp sell-off on Thursday as escalating geopolitical tensions between Iran and the United States triggered panic among investors, dragging the benchmark index down by more than 6,400 points.
The trading at the PSX ended on a sharply negative note as the market witnessed heavy selling pressure, resulting in the loss of six key psychological levels.
At the close of business, the benchmark KSE-100 Index plunged by 6,042 points to settle at 182,338 points, compared to the previous day’s closing of 188,380 points.
During the session, the index touched an intraday high of 188,923 points, while the lowest level recorded was 181,961 points, reflecting extreme volatility.
Market activity remained robust as shares worth Rs52 billion were traded, with a total volume of 410 million shares exchanged during the day.
Selling pressure was mainly observed in fertilizer, commercial banking, oil and gas, cement, and power generation sectors.
According to market experts, the sharp decline was largely driven by profit-taking, which pushed the market into a steep downward trend.
