PSX crashes by over 1,600 points

KARACHI: The Pakistan Stock Exchange (PSX) opened in green on the first trading day of the week and remained positive as the benchmark KSE-100 index surged by around 722 points, reaching 118,309.49 at 9:32 AM.

The stock market remained in the green throughout the first trading hour, with the lowest point recorded at 117,923.44, still 336 points higher than its previous close of 117,586.98 at 9:42 AM. During this period, the trading volume was recorded at 29,020,967.

By 9:55 AM, the PSX had climbed 1,148.11 points, hitting the highest mark of the first trading hour at 118,735.09.

However, the PSX experienced a sudden drop of 41.56 points or 0.04 per cent, falling to 117,545.42 at around 10:27 AM.

At 12:25 PM, the stock market extended its decline, plummeting 1,645.04 points to 115,941.94.

As of 1:17 PM, among the KSE-100 companies trading in the green were ENGROH, up by 10.00 per cent, MURB up by 6.33 per cent, PKGP up by 5.21 per cent, MEHT up by 3.76 per cent, JDWS up by 3.37 per cent, JVDC up by 2.50 per cent, KTML up by 2.12 per cent, EFUG up by 1.72 per cent, BNWM up by 1.70 per cent, and LCI up by 1.50 per cent.

Companies trading in the red included PSX, down by 10.01 per cent, PGLC down by 10.00 per cent, SNGP down by 6.02 per cent, PAEL down by 4.96 per cent, PTC down by 3.49 per cent, HGFA down by 3.39 per cent, PSO down by 3.38 per cent, AVN down by 3.29 per cent, SHEL down by 3.26 per cent, and KEL down by 3.09 per cent.

Updated: 1:20 PM

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