Bloodbath at PSX as KSE-100 slides over 11,000 points

Pakistan’s benchmark KSE-100 index plummeted 11,015.96 points on Monday, closing deep in the red.

The decline of 6.99 per cent from the previous close of 157,496.10 points dragged the index down to 146,480.14 points by the closing bell.

At close, trading volume stood at 378,012,095 shares, with a total value of Rs33,004,278,586.

The market’s heaviest movers were led by K-Electric Limited, which tumbled 7.81pc to Rs7.20 on 127,469,387 shares. First National Equities Limited saw a sharper drop, plunging 12.21pc to Rs1.15 on 33,608,420 shares, while The Bank of Punjab slumped 10.01pc to Rs25.45 on 33,386,862 shares.

Trading was temporarily halted around 9:20am after the index dropped 9,780.15 points, prompting a market suspension.

A notice from the Pakistan Stock Exchange said the halt was triggered when the KSE-30 index fell 5pc from the previous day’s close. In accordance with PSX regulations, all equity-based markets were suspended.

When trading resumed, the index fell further, recording a decline of 13,157.62 points before making a brief recovery ahead of the close.

The sell-off seen on Monday comes amid escalating geopolitical tensions and a surge in global oil prices, which have weighed heavily on investor sentiment.

The latest slide follows a particularly turbulent week for the market, with heightened volatility reflecting investor concerns over external risks and macroeconomic uncertainty.

According to Reuters, oil prices surged around 25pc on Monday to their highest since mid-2022.

Brent is on track ‌for a record one-day gain, while gold fell 2pc as escalating geopolitical tensions are putting particular pressure on world energy supplies.

Prime Minister Shehbaz Sharif is expected to unveil an austerity plan on Monday in view of the global fuel crisis.

Last week, the government increased the prices of petrol and high-speed diesel by Rs55 per litre, the highest-ever such hike, as the country felt the first direct economic impacts of the ongoing regional conflict.

‘Oil rain’ falls on Tehran after apocalyptic strikes on refineries

PM to unveil austerity plan today to cope with war fallout

Stocks nosedive 6.3pc in jittery week on geopolitical concerns

ParkView City homebuyers can now avail UBL Home Financing

Fatima Fertilizer launches Sarsabz Tabeer: Seeds of Change campaign on International Women’s Day to celebrate women in agriculture

Women in Thar: Breaking barriers, transforming lives

ParkView City homebuyers can now avail UBL Home Financing

Fatima Fertilizer launches Sarsabz Tabeer: Seeds of Change campaign on International Women’s Day to celebrate women in agriculture

Women in Thar: Breaking barriers, transforming lives

ParkView City homebuyers can now avail UBL Home Financing

Govt hikes petrol, high-speed diesel prices by Rs55 per litre

‘Petrol bomb’ falls on Pakistan amid war

‘Mortgaged to American interests’: US approval for Russian oil sparks outrage from Indian opposition

CDF Munir discusses Iranian attacks in meeting with Saudi defence minister

Pakistan signals support to Saudi Arabia while treading carefully with Iran amid Gulf escalation

Pakistan comes under scrutiny as UK cracks down on ‘asylum abuse’

Pakistan edge Japan 4-3 to qualify for Hockey World Cup after 8 years

Work on underground water storage tank begins

SBP maintains policy rate at 10.5pc

Brace for impact: The Middle East war has reached Pakistan

PMD warns winds could carry pollutants from Iran, worsen air quality in western parts of Pakistan

Unstoppable India target Olympic gold after making World Cup history

PM Shehbaz announces Rs1.5m reward for each player of hockey team after qualifying for World Cup

Oil soars 25pc, gold drops as Iran war jolts global commodity markets

Trump’s reckless gambit

Debating war and policy

Asia Reacts To Iran War: Energy Shock, Protests, Diplomatic Calls

Global Protests Erupt Over Iran War As Anger Spreads Across Cities

Tehran Strikes Intensify, Trump Threatens Iran With An Attack

Middle East Update: Trump Warns Iran Will Be “Hit Very Hard” As Strikes Continue

Was the US Torpedoing of an Off-Duty Iranian Warship Legal?

Who Is Mojtaba Khamenei?

INDIA HUMILIATE New Zealand in T20 World Cup Final! Samson 89 & Bumrah Destroy NZ

Asia Reacts To Iran War: Energy Shock, Protests, Diplomatic Calls

Global Protests Erupt Over Iran War As Anger Spreads Across Cities

Tehran Strikes Intensify, Trump Threatens Iran With An Attack

Middle East Update: Trump Warns Iran Will Be “Hit Very Hard” As Strikes Continue

Was the US Torpedoing of an Off-Duty Iranian Warship Legal?

Who Is Mojtaba Khamenei?

INDIA HUMILIATE New Zealand in T20 World Cup Final! Samson 89 & Bumrah Destroy NZ

Asia Reacts To Iran War: Energy Shock, Protests, Diplomatic Calls

Global Protests Erupt Over Iran War As Anger Spreads Across Cities

Tehran Strikes Intensify, Trump Threatens Iran With An Attack

Middle East Update: Trump Warns Iran Will Be “Hit Very Hard” As Strikes Continue

Was the US Torpedoing of an Off-Duty Iranian Warship Legal?

Qatar energy minister warns Iran war will force Gulf to halt energy exports within weeks: report

Govt hikes petrol, high-speed diesel prices by Rs55 per litre

© Dawn Business