Imran Khan bail reports trigger 1,710-point bloodbath at PSX

KARACHI (Staff Report): Reports of a possible bail for Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan sent shockwaves through the Pakistan Stock Exchange (PSX) on Thursday, triggering heavy selling and wiping out 1,710 points from the benchmark KSE-100 Index.

The sharp decline came despite falling international crude oil prices, which failed to provide support to investor sentiment as political uncertainty overshadowed positive developments in the global commodity market.

The benchmark KSE-100 Index closed at 177,374 points, down 1,710 points from the previous session, reflecting renewed concerns among investors over the country’s political outlook.

The market opened with a positive momentum and climbed to an intraday high of 180,310 points. However, selling pressure intensified during the session, pushing the index down to its lowest level of 177,272 points.

Market activity remained substantial, with approximately 1.07 billion shares changing hands during the day. The total value of traded shares stood at Rs31.64 billion, indicating significant participation amid heightened volatility.

A leading financial analyst told The Karachi Post requesting anonymity, the broader market reflected the bearish sentiment, as out of 567 companies traded, share prices of 316 declined, while 155 recorded gains. The remaining companies remained unchanged or were not actively traded.

He said, the sharp reversal highlighted the sensitivity of equity investors to political developments, with reports surrounding Imran Khan’s possible release emerging as a major factor influencing market sentiment.

Despite the decline in crude oil prices, investors remained cautious, with widespread selling outweighing any potential relief from lower international energy prices.

The session ended with substantial losses, underscoring the impact of political uncertainty on Pakistan’s equity market and investor confidence.