Pakistan’s benchmark KSE-100 index suffered a sharp decline on Monday, dropping 13,050.63 points (8.29%) by 10:50 am after trading resumed.
Earlier, trading had been temporarily halted around 9:20 am when the index fell 9,780.15 points, triggering an automatic market suspension. The steep fall reflects heightened market volatility and investor caution amid ongoing economic uncertainties.
Following the 6% decline, a Market Halt was triggered as per PSX regulations, and all equity-based markets have been suspended accordingly.
The KSE-100 Index was recorded at 147,715.95 at around 9:22 a.m., down 9,780.15 points, or 6.21%, from the previous close, reflecting widespread selling across the market.
Across-the-board selling pressure was observed in several key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing companies, power generation and refineries.
Index-heavy stocks such as MCB Bank, Meezan Bank, National Bank of Pakistan, Mari Energies, Oil and Gas Development Company, Pakistan Petroleum Limited, Pakistan State Oil, Sui Northern Gas Pipelines, Sui Southern Gas Company and Hub Power Company all traded in negative territory during the early session.
The selloff came amid rising concerns among investors over a sharp surge in global crude oil prices, which has raised fears of higher fuel costs, increased production expenses and renewed inflationary pressure on the economy.