The Pakistan Stock Exchange (PSX), which was continuously setting records, experienced the worst slump in its history on Tuesday, shedding a staggering 3,505 points from the benchmark KSE-100 index.
This historic decline erased billions of rupees in investor capital, as the market succumbed to extraordinary fluctuations driven by an increasingly tense political climate.
The KSE-100 index opened on a volatile note, initially showing promise by surging 1,719 points, fueled by strong buying in banking sector shares. At its peak, the index reached 99,819 points, coming close to breaking its all-time record. However, the gains were short-lived as panic selling gripped the market, leading to a dramatic downturn.
By the close of trading, the index had plummeted to 94,574 points, breaching five critical psychological thresholds of 99,000, 98,000, 97,000, 96,000, and 95,000 points in a single day.
A total of 1.11 billion shares, valued at Rs43 billion, changed hands during the trading session.
Market analysts attribute the unprecedented slump to ongoing political uncertainty, which has dampened investor confidence and triggered widespread sell-offs.
