Trading at the Pakistan Stock Exchange was halted shortly after the open on Monday after the benchmark KSE-100 Index plunged more than 9%, as escalating geopolitical tensions and global risk aversion triggered panic selling.
The KSE-100 fell 15,345 points, or 9.13%, to 152,717 within minutes of the market opening at 9:16 a.m., prompting an automatic trading suspension under exchange rules. The selloff marked one of the biggest single-day intraday declines in the index’s history.
At 9:22 am, the benchmark index was hovering at 152,991.15, down by 15,071.01 points or 8.97%
The KSE All Share Index dropped 8.49%, while the KSE-30 Index slid 9.69%. Shariah-compliant indices also posted sharp losses, with the KMI-30 down 9.67% and the KMI All Share Index losing 8.99%. The PSX Dividend 20 Index fell 9.10%.
The rout comes amid heightened geopolitical tensions in the Middle East following escalating conflict involving Iran, which has rattled global financial markets and driven investors toward safer assets. Persistent foreign capital outflows, weakening earnings momentum and cautious investor positioning have added to downward pressure on Pakistani equities.
Among individual stocks, YOUW led the declines, plunging 17.66%, followed by CNERGY, down 10.14%, UNITY falling 10.03%, and both DHPL and SSGC losing just over 10%. Only marginal resilience was seen in a handful of counters, with PGLC edging up 0.15%, while TPLRF1 and MEHT remained flat. SHFA slipped 0.03% and PSEL declined 0.82%, reflecting the overwhelmingly negative breadth of the market.
The selloff was largely driven by heavyweight constituents, with Fauji Fertilizer Company (FFC), United Bank Ltd. (UBL), Engro Holdings (ENGROH), Oil & Gas Development Company (OGDC), and Meezan Bank (MEBL) accounting for a significant portion of the index-point erosion.
Sector-wise, Commercial Banks, Fertilizer, Oil & Gas Exploration Companies, Cement, and Investment Banks and Securities Companies contributed most to the downturn, underscoring the broad-based nature of the decline.
Defensive support was minimal. Leasing Companies, Close-End Mutual Funds, Synthetic & Rayon, Leather & Tanneries, and Textile Spinning posted limited gains, providing little offset to the overall slide.
Following the automatic suspension, trading is expected to resume in phases, with a pre-open session scheduled for 10:22 a.m. and the official reopening at 10:27 a.m., as investors assess volatility triggered by external shocks and global risk aversion.
