Blood bath at PSX amid Indo-Pak war

May 07, 2025 (MLN): The Pakistan Stock Exchange (PSX) witnessed extreme volatility on Wednesday as the benchmark KSE-100 index nosedived by as much as 6,560 points during intraday trade, marking one of the steepest falls in recent history.

The index plunged to a session low of 107,007.68 points, reflecting a 5.78% decline from the previous close by 9:35 AM, amid intense selling pressure.

This panic selling occurred mainly due to the heightened tensions at the Pakistan-India border, with reports indicating that India had attacked Pakistani territory.

However, it managed to recoup part of the losses, and at the time of reporting, the index was trading at 111,304.82, down by 2,263.68 points or 1.99%.

The benchmark traded in a wide range of 4,297.14 points, with an intraday high of 111,304.82 and a low of 107,007.68, highlighting the scale of panic-driven fluctuations.

Trading activity remained relatively thin, with 32.39 million shares changing hands so far, amounting to a total traded value of Rs. 1.44 billion.

Leading the losers’ board were Pakgen Power (PKGP), YouWth, Pakistan Services (PSEL), Agritech (AGL), and Airlink, which dropped by 9.21 percent, 8.77 percent, 8.64 percent, 7.88 percent, and 6.60 percent, respectively.

On the other hand, some stocks bucked the trend, with Pak Oman Microfinance (POML), Pakistan General Insurance (PGLC), Gatron Industries (GADT), Unilever Foods (UPFL), and Habib Growth Fund (HGFA) posting gains between 1.61 percent and 9.99 percent.

In terms of index-point contributions, major draggers included Lucky Cement, Engro Corporation, United Bank Limited, Systems Limited, and Hub Power Company, which collectively pulled the index down by hundreds of points.

Meanwhile, positive contributions came from Fauji Fertilizer Company, Habib Metropolitan Bank, Unilever Foods, Gatron Industries, and POML, though they were not enough to offset the overall decline.

Sector-wise, the downturn was led by heavy losses in commercial banks, cement, oil and gas exploration companies, technology and communication, and investment banks and securities companies, which together accounted for a significant portion of the decline.

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