PSX Sheds 2,200 Points Amid Rising India-Pakistan Tensions

Bears controlled the Pakistan Stock Exchange (PSX) on Thursday as the benchmark KSE-100 index lost over 2,000 points as tensions escalated between Pakistan and India. The 100-Index lost 2,206 points, a negative change of 1.88 percent to close at 115,019 points as compared to 117,226 points on the last trading day. A total of 506,702,532 shares were traded during the day as compared to 605,175,574 shares the previous trading day, whereas the price of shares stood at Rs. 24.488 billion against Rs. 27.762 billion on the last trading day. As many as 456 companies transacted their shares in the stock market, 83 of them recorded gains and 339 sustained losses, whereas the share price of 34 companies remained unchanged. Brokerage house Topline Securities said the KSE-100 Index extended its previous day’s losses, remaining under pressure throughout the session. “Weighed down by escalating regional tensions between India and Pakistan and the conclusion of futures rollover week, the market adopted a distinctly risk- off tone,” the brokerage house said. The bulk of the negative contribution came from HUBC, ENGRO, MARI, BAHL, and UBL, which collectively shaved 605 points off the index, it added.