Overview
- The KSE-100 fell 3,667.90 points, or 2.27%, to close at 157,870.50 after a volatile session that reversed recent gains.
- Selling swept banks, oil and gas, cement, fertilisers, auto assemblers, power generation and refineries, with blue-chips such as OGDCL, Hub Power, Mari Energies, PSO, MCB, Meezan and National Bank among the decliners.
- Traders pointed to the Senate’s approval of the 27th Constitutional Amendment and reports of terrorist attacks in Islamabad and Wana as key triggers for the risk-off shift.
- Analysts also cited profit-taking, weak corporate results and reported foreign investor outflows as additional pressures, with one outlet estimating more than PKR 30,000 crore in market value erased.
- Market breadth deteriorated sharply, and one report recorded 836.4 million shares traded worth about Rs38 billion, with 364 decliners versus 79 advancers.