The Pakistan Stock Exchange (PSX) has halted trading as the benchmark KSE-100 Index plummets 7% on Thursday (May 8). Earlier in the session, the index staged a strong recovery, bouncing back from one of its steepest single-day losses in history on hopes of de-escalation of geo-political tensions. The benchmark KSE-100 Index surged by nearly 1,800 points in the opening hours of trading.
At 1:31 pm, the index was trading at 103,060.3— down by 6,948.73 points or 6.32%.
The fall comes on the heels of Wednesday’s (May 7) crash, when the KSE-100 plunged over 6,500 points, wiping out nearly 6% of its value and closing at 107,007. It marked one of the sharpest single-day declines in the bourse’s history, triggering panic across financial markets.
The sell-off was sparked by news of India’s precision military strike, Operation Sindoor, which targeted nine sites linked to terrorism — four within Pakistan and five in Pakistan-occupied Kashmir. The action was in response to a deadly terror attack in Pahalgam.
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First Published: May 8, 2025 11:29 AM IST
