Overview
- At 11:40 a.m. local trading the KSE-100 index was about 175,637.55, down roughly 1,986 points from earlier levels as selling accelerated.
- Reporters linked the selloff to fresh attacks in the Middle East that weakened risk appetite and prompted broad withdrawals from Pakistani equities.
- Selling was wide across major sectors, with automobile assemblers, cement, chemicals, commercial banks, oil and gas explorers, OMCs and power generators all trading lower.
- Large, index-heavy names such as HUBCO, MARI, OGDC, PPL, POL, PSO, WAFI, MCB, MEBL and UBL registered losses that amplified the index decline.
- Regional earnings shocks and impending US tech reports were also shifting flows, and the pullback follows recent profit-taking after a prior rally, leaving volatility and investor caution likely to persist.