KSE-100 plunges over 3,000 points as Pakistan-Afghanistan tensions rattle PSX

Selling pressure returned to the Pakistan Stock Exchange (PSX) on Friday as investor sentiment remained dented amid the escalating situation between Pakistan and neighbouring Afghanistan. The benchmark KSE-100 Index shed over 3,000 points during the opening minutes of trading. At 9:20am, the benchmark index was hovering at 165,813.86, down by 3,079.22 points or 1.82%. Selling pressure was observed in key sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks, including ARL, MARI, OGDC, POL, PPL, SSGC, SNGPL, MCB, MEBL and NBP, traded in the red.