Escalating tensions between Pakistan and Afghanistan weighed heavily on the equity market on Friday, with the benchmark index losing more than 800 points at closing amid broad-based selling, reported 24NewsHD TV channel.
During today’s session, the market witnessed a drop of more than 1000 points, with the KSE-100 benchmark index falling to 167,812 points.
At the end of the session, the KSE-100 index settled at 168,062.16, down by 830.92 points, or 0.49%.
Out of 567 futures-market companies, 161 recorded gains, 257 declined, while 149 remained unchanged.
Losses were recorded across major sectors, including commercial banks, fertiliser, oil and gas exploration companies, automobile assemblers, cement, oil marketing companies, power generation, and refineries.
The decline follows Pakistan government statements that over 130 Afghan Taliban operatives were killed and more than 200 were injured after Pakistan’s security forces responded to cross-border firing.
According to the information minister, strikes were carried out in Kabul, Paktia, and Kandahar, with multiple posts and military installations targeted.
Earlier on Thursday, the benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) turned around to a bullish trend, gaining 4,266.79 points, a positive change of 2.59 percent, to close at 168,893.09 points.
During the session, the ready market recorded a trading volume of 692,402,897 shares with a traded value of Rs 35.804 billion, against 619,628,014 shares valuing Rs 29.252 billion in the previous session. Market capitalization increased to Rs 19.019 trillion from Rs 18.668 trillion a day earlier.
Unity Foods Limited topped the volume chart with 71,443,224 shares, followed by Bank of Punjab with 38,659,618 shares and K-Electric Limited with 35,071,352 shares.
The top gainers included PIA Holding Company LimitedB, which rose by Rs 356.60 to close at Rs 16,497.60, and Sazgar Engineering Works Limited, which gained Rs 128.53 to settle at Rs 2,218.20.
On the losing side, Unilever Pakistan Foods Limited declined by Rs 375.95 to close at Rs 25,576.77, while Pakistan Tobacco Company Limited fell by Rs 113.48 to close at Rs 1,386.56.
In the futures market, turnover stood at 542,665,000 shares with a traded value of Rs 28.614 billion, compared to 514,774,000 shares worth Rs 23.879 billion in the previous session.
Reporter Kavish Memon