On February 16, 2026, the Pakistan Stock Exchange (PSX) faced a severe downturn, with the KSE-100 Index plummeting 5,150 points, or 2.87%, to close at 174,454. This decline was marked by extreme volatility, as the index oscillated between an intra-day high of 179,969 and a low of 173,574. The trading session was characterized by aggressive liquidation and broad-based weakness across major sectors, including commercial banks, oil and gas, fertilizers, cement, and power. Institutional selling dominated the market, with heavyweight stocks like United Bank, Habib Bank, and Fauji Fertiliser significantly contributing to the index's decline. KTrade Securities noted that the market's fragile sentiment was exacerbated by disappointing corporate earnings and persistent political uncertainty, leading to a lack of meaningful recovery attempts during the session.