Massive selling at bourse, KSE-100 sheds nearly 12,000 points

Massive selling pressure was observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index shedding nearly 12,000 points in the opening hours of trading on Monday amid a sharp rise in oil prices. The market opened on a negative note and by 9:22am, the benchmark KSE-100 was hovering at 147,715.95, down 9,780.15, or 6.21%. Following the 6% decline, a Market Halt was triggered, and all equity-based markets were suspended. “All TRE Certificate Holders are hereby informed that due to a 5% decrease in the KSE-30 index from the previous trading day close of the same, a Market Halt has been triggered as per PSX Regulations and all equity-based markets have been suspended accordingly,” read the notice. The market resumed trading at 10:22am. However, selling pressure persisted, and by 10:30am, the KSE-100 declined to 145,770.63, shedding 11,725.47 or 7.44%. “This reflects heightened investor anxiety amid escalating geopolitical tensions and policy uncertainty,” Waqas Ghani of JS Global, told Business Recorder.