KARACHI: The Pakistan Stock Exchange (PSX) witnessed a historic crash on Thursday as the benchmark KSE-100 Index plummeted by 6,482 points (-5.89%), closing at 103,527 — marking the largest one-day decline in the index’s history.
Investor confidence was severely rattled, with the session experiencing extreme volatility. According to Ismail Iqbal Securities, the KSE-100 Index recorded its highest-ever intraday fluctuation of 10,282 points, swinging from an intraday gain of 1,872 points to a staggering low of 8,410.
Topline Securities attributed the market’s collapse to escalating geopolitical tensions, particularly following a statement from ISPR Director General Lt. Gen. Ahmed Sharif Chaudhry, confirming that Pakistan had neutralized 25 hostile drones. He also reported injuries to four army personnel after one drone partially struck a military site.
The announcement sent panic through financial markets, sparking massive sell-offs across sectors amid fears of deepening cross-border conflict.
Al Habib Capital noted that the trading day began with cautious optimism on hopes of de-escalation. However, investor sentiment quickly turned negative following reports of multiple Indian drones being shot down, intensifying concerns of further escalation.
Due to the sharp decline, trading was briefly suspended for an hour after the KSE-30 Index fell more than 5% within five minutes, triggering a market circuit breaker.
Major losses on the KSE-100 came from key stocks including FFC, MARI, UBL, OGDC, and PPL, collectively dragging the index down by 2,051 points.
Overall market activity saw 651 million shares traded, with a total value of PKR 35.4 billion. WorldCall Telecom (WTL) topped the volume charts with 93.2 million shares changing hands.
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