Karachi Stocks plunge over 5,400 points amid global and domestic pressures

KARACHI:  The Pakistan Stock Exchange (PSX) witnessed a sharp decline today, with the KSE-100 Index closing over 5,400 points lower.

The trading week began on a negative note, as the market opened with a downturn and sustained bearish momentum throughout the day.

The KSE-100 Index fell by 633 points to 172,536 in early trading, and continued to drop during the session, reaching 170,980 points—a loss of 1,556 points.

By the close of trading, the downward trend persisted, and the index ended at 167,691, down 5,478 points for the day. The day’s intraday high for the KSE-100 was 174,336 points, while the lowest point recorded was 166,886. Overall, the index experienced a 3.16% decline during the session.

Speaking at a listing ceremony, PSX CEO Farukh Sabzwari said that the decline is influenced by interest rate cuts and international political developments.

He added that the situation at Reko Diq, company earnings reports, and global oil price uncertainties amid the ongoing US-Iran tensions are also affecting market sentiment.

Sabzwari noted that the PSX has fallen from its peak in January and that global and domestic factors continue to shape investor behavior.