Pakistan’s stock market faced a “Black Tuesday,” as the KSE-100 index recorded its largest-ever single-day drop in points, driven by profit-taking and escalating political unrest. The Pakistan Stock Exchange’s (PSX) benchmark 100-Index plummeted by 3,505.62 points, marking a 3.71% decline, and closed at 94,574.16 points, down from 98,079.78 points in the previous session.
A total of 1,113,617,710 shares were traded, significantly higher than the 640,258,528 shares traded in the previous session. The total value of traded shares rose to Rs. 43.165 billion, compared to Rs. 25.623 billion on the prior trading day. Out of 455 companies that traded on the stock market, 52 registered gains, 355 faced losses, and the share prices of 48 companies remained unchanged.
Islamic banks, including MEBL, FABL, and BIPL, hit their lower price limits (-10%), while negative contributions from MEBL, FFC, OGDC, PPL, and HUBC collectively pulled the index down by 1,385 points. On the other hand, HBL, HMB, BAHL, and BAFL added 282 points, partially offsetting the losses, according to the report.