The day began with the stock market opening in negative territory, and at one point, the 100 Index plunged to 97,361 points. However, the market regained some momentum later due to heavy investments in the banking sector.
At 11:15 AM, the KSE-100 Index rose by 1,642 points (1.68%) to reach 99,723 points. However, by 12:35 PM, it had dropped again by 2,281 points (2.33%) to 95,798 points.
Subsequently, with mounting selling pressure, the 100 Index fell further, reaching 95,500 points shortly before the session's end.
By 2:40 PM, the index had dropped by 2,909 points (2.97%) to 95,171 points. During the closing hours, the index plunged over 3,800 points at one stage, hitting 94,200 points. Eventually, the KSE-100 Index closed at 94,574 points, down 3,505 points (3.71%).
This volatility in the stock market was triggered by intense clashes between Pakistan Tehreek-e-Insaf (PTI) supporters and security personnel deployed in Islamabad.
Punjab Police Chief Anwar Usman told the foreign news agency Reuters that at least 119 people were injured in the clashes, and 22 police vehicles were set on fire.
Late at night, miscreants rammed a speeding vehicle into Rangers personnel, resulting in the martyrdom of four soldiers. Subsequently, the Pakistan Army was deployed in the federal capital, with shoot-on-sight orders issued against the perpetrators.
It is worth noting that on Monday, the benchmark KSE-100 Index had closed above 98,000 points with an increase of 282 points, driven by strong investments in the banking sector.
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