KSE-100 plummets over 1,800 points after early gains
Pakistan’s benchmark KSE-100 index was trading in the red, down 1,856.07 points by 11:45am on Wednesday, taking back the recovery seen earlier in the day.
In early trade on Wednesday, the index briefly slipped more than 2,300 points around 9:20am, touching an intraday low of 154,790.73 before regaining ground by 10:30am, trading 381.98 points higher.
This volatility suggests that investor confidence still remains cautious, following a turbulent start to the week.
On Tuesday, the market staged a sharp rebound of 5,159.10 points to close at 157,132.09, recovering a significant portion of Monday’s record 16,000-plus point plunge, the largest single-session decline in the history of the Pakistan Stock Exchange.
So far, the session has swung between a high of 157,962.47 and that early low, underscoring the fragile sentiment prevailing in the market.
The top active stocks so far are being led by Unity Foods Limited, rising 8.37pc to Rs9.32 at a volume of 94,249,500, followed by K-Electric Limited, rising 2.61pc to Rs7.48 at a volume of 60,609,370, and Trust Securities & Brokerage Limited declining 4.17pc to Rs0.23 at a volume of 17,572,461.
The turbulence reflects broader global uncertainty. Escalating US-Israel clashes with Iran have pushed oil prices to a 19-month high and weighed on international equities, as investors grapple with the risk of a prolonged conflict in the Middle East.
This marks the range of today’s session so far, between 157,962.47 points and 154,790.73, signaling recovery along with flux at the exchange as geopolitical uncertainty continues into the week.
While the local bourse appears to be stabilising after Monday’s shock, sustained recovery will likely depend on external developments and the trajectory of global commodity markets in the days ahead.
More to follow