PSX Opens in Sharp Decline as Market Drops Over 5,000 Points

KARACHI: The Pakistan Stock Exchange (PSX) opened on a bearish note on the first trading day of the week, witnessing a sharp decline of 4,795 points.

The benchmark KSE-100 index fell to 162,396 points at the start of trading. The downward trend continued as the market further slid, reaching a decline of 4,943 points and later plunging by as much as 5,433 points, bringing the index down to 161,757 points.

The sudden drop marked a significant reversal after a bullish trend observed last week, during which the index crossed both the 166,000 and 167,000 levels, reflecting strong investor confidence.

Market analysts had previously linked the upward momentum to positive expectations from Islamabad talks related to a possible US-Iran ceasefire, easing geopolitical tensions, and stability in global crude oil prices, which had also supported gains in Asian markets.

However, the current session saw renewed selling pressure across sectors, resulting in a steep fall at the Pakistan Stock Exchange in Karachi.