PSX Down Over 2,500 Points As News of Imminent Indian Attack Stirs Panic

Equities dropped in red on early Wednesday morning as Pakistan Stock Exchange (PSX) lost over 2,500 points as investors bet big on an Indian attack across the line of control (LoC) in the next 24-36 hours. At 9:40 AM, the benchmark KSE-100 index lost 1,832 points or 1.59 percent to sit at 113,040 before recovering a few levels back in the next 30 minutes. At 10:20 AM, KSE-100 was down 1,531 points or 1.33 percent and stood at 113,340. At 10:48 AM, it was down 2,566 points or 2.23 percent at 112,306. At the time of press, a total of 69.3 million shares worth Rs. 4.58 billion were traded. As many as 394 companies transacted their shares in the stock market, 75 of them recorded gains and 305 sustained losses, whereas the share price of 14 companies remained unchanged. This is an intraday market update.