PSX tumbles amid rising Pakistan-India tensions

After an initial recovery, the Pakistan Stock Exchange (PSX) faced renewed selling pressure on Thursday, with the benchmark KSE-100 Index plunging nearly 7,000 points during intra-day trading amidst ongoing market volatility.

By 12:30 PM, the KSE-100 Index stood at 103,060.30, showing a sharp drop of 6,948.72 points or 6.32%, reflecting the heightened uncertainty in the market.

The session opened on a positive note, with the KSE-100 Index rising by nearly 1,800 points, reaching 111,791.53, a 1.62% increase. Investor sentiment appeared to improve, driven by hopes of easing regional tensions.

The market fluctuated between a high of 111,881.02 and a low of 103,055.17 points during the session, indicating a volatile environment.

Total trading volume reached 147,513,311 shares, generating a turnover of Rs13.82 billion.

Despite the earlier recovery, the sharp decline prompted a suspension of trading mid-session, reflecting the severity of the downturn.

A market halt was implemented at the PSX following the decline, with trading set to resume at 1:39 PM after a one-hour break.

The KSE-100 had closed at 110,009.02 points in the previous session.