KSE-100 Slides 1,335 Points as Saudi-Houthi Fighting Lifts Oil
The Pakistan Stock Exchange endured another rough session on Friday as the KSE-100 1,335 points slide wiped out early gains and deepened the week’s losses. The benchmark fell 1,335.01 points, or 0.81 per cent, to 162,589.30 by the Friday prayers break, with investors rattled by intensifying Saudi Arabia-Houthi fighting and climbing oil prices.
The index opened near 163,869 and touched an intraday high of 163,966.86 before sellers took over. It sank to a low of 162,407.61 against the previous close of 163,924.31. Selling swept across commercial banks, oil and gas exploration companies, oil marketing firms, power generation, cement, automobile assemblers and refineries, with heavyweights HUBC, PPL, POL, UBL and MCB all trading lower.
KSE-100 1,335 points: session in numbers
| Indicator | Figure |
|---|---|
| KSE-100 close (mid-session) | 162,589.30 |
| Points lost | 1,335.01 (0.81%) |
| Intraday high / low | 163,966.86 / 162,407.61 |
| Previous close | 163,924.31 |
| Trades | 144,593 |
| Shares traded | 159.1 million |
| Traded value | Rs7.66 billion |
Market participants blamed the selloff on the intensified Saudi-Houthi conflict, which has lifted Brent crude toward multi-month highs around $113 to $114 a barrel. Costlier oil raises Pakistan’s import bill, pressures the external account and feeds inflation, a combination that equity investors have punished repeatedly this month.
Second straight day of heavy losses
Friday’s fall followed Thursday’s brutal session, when the index lost more than 2,000 points. Two heavy sessions back to back have pushed the benchmark’s year-to-date decline to 6.59 per cent, with the one-year change now at minus 1.22 per cent. The 52-week range stands at 144,119.44 to 191,032.73.
The pattern is becoming familiar. Earlier this month the index plunged 2,288 points on political uncertainty, and it tumbled nearly 2,000 points on a Monday session as well. Even calmer days have leaned negative: the benchmark fell 703 points on the first Friday of October. For investors, the question is no longer whether the market can absorb one shock, but how many it can take in a single month.
What to watch next
Much depends on the oil market. If the Saudi-Houthi fighting escalates further, crude could test new highs and keep pressure on Pakistan’s import bill. If tensions ease, the oversold market could bounce. The State Bank’s policy stance also matters: with inflation risks rising again, rate-cut hopes that once supported equities look weaker.
Longer term, market depth remains the structural story. Regulators are trying to deepen the local bond market, which could eventually give investors alternatives and reduce the boom-bust rhythm of equities. For now, though, the KSE-100 is a hostage to headlines from the Gulf.
FAQ
Why did the KSE-100 fall on Friday?
Investors sold across banks, energy and cement stocks as intensified Saudi-Houthi fighting pushed Brent crude toward multi-month highs, raising import-bill and inflation fears.
How much has the index lost this year?
The KSE-100 is down 6.59 per cent year-to-date, with a one-year change of minus 1.22 per cent.
What was the traded value in the session?
About Rs7.66 billion, across 144,593 trades and 159.1 million shares by the Friday prayers break.
