Pakistan’s Benchmark KSE-100 Recorded its Biggest Single-Day Crash as Stocks Plunged by 16,087 Points or 9.57% to close at 151,973 points.
According to an article by Arab News PK today, Pakistan’s Benchmark KSE-100 recorded its biggest single-day crash following the continuous escalation of the Iranian Conflict as stocks plummeted by 9.57% or 16,089 points. Before the crash, Pakistan’s Benchmark KSE-100 sat at 168,062 points.
It can be reported that the biggest movers in this downward pressure were the stock heavyweights. Fauji Fertilizer Company, United Bank Limited, Engro Holdings Limited, Hub Power Company and Meezan Bank alone plummeted stocks by 5,167 points from the benchmark index.
Despite the troubling outlook, total market volume peaked at 809 million shares with a turnover of Rs. 48.5 billion. This meant that the trading activity remained heightened despite the sharp crash. K-Electric led the volumes with its 163 million shares traded alone.
The precarious stock market situation is likely to continue until the conflict in the Middle East reaches a resolution or de-escalation.
To read the original news piece in more detail, refer to the linked article above. Our extensive analysis and coverage of the Iranian Conflict is also available to check out and read independently.
