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 13,157.6...
Following an early crash and a temporary market halt, the KSE-100 benchmark index resumed trading, recovered slightly by midday, but plunged sharply by 16,089.17 points, posting its largest-ever single-day decline. As trading began Monday following a weekend marred by geopolitical instability, the market crashed by over 15,000 points, causing the Pakistan Stock Exchange (PSX) to halt trading. According to Chief Executive Officer Topline Securities Mohammed Sohail, the “market overreacted initially amid selling by a few funds and leveraged players”. As trading resumed around 10:30am, the index was down 12,334.88 points from its previous close of 168,062.16 points, marking a fall of 7.34 per cent. Sohail added that after the halt, some buying was seen as investors realised the market had already fallen by 20pc from its recent peak and had attractive values. By 11:07am, the market recovered more, with the index down 9,164.62 points, marking a fall of 5.45pc. However, by closing the index hit 151,972.99 points, s...
The Pakistan Stock Exchange’s (PSX) benchmark index KSE-100 began another week on a low note, losing more than 5,400 points during intraday trade on Monday. The KSE-100 index declined 5,478.63 points, or 3.16 per cent, to stand at 167,691.08 points from the previous close of 173,169.71 points. The index reached its intraday high of 174,336.85 points at 9:38am — higher than its previous close — but then plunged to an intraday low of 166,886.63 points at around 1:24pm, before regaining some ground to 167,691 points by market close. The top active stocks were led by K-Electric Limited, falling 4.61pc to Rs7.66 with 36,062,769 shares traded; followed by Worldcall Telecom Limited, falling 4.35pc to Rs1.32 with a volume of 33,673,161; and Bank of Punjab, falling 8.63pc to Rs30.19 with a volume of 26,673,106. The top advancing stocks were led by Itanz Technologies Limited, rising 10.01pc to Rs13.96, followed by Kohinoor Industries Limited, rising 10.00pc to Rs50.60, and S.S. Oil Mills Limited, rising 10.00pc to Rs56...