The Pakistan Stock Exchange (PSX) experienced a severe downturn on Friday, as the benchmark KSE-100 index plummeted by 1,286.28 points, wiping over PKR 184 billion from the market capitalization in a single session of intense selling pressure.
The market witnessed a substantial retreat, with the KSE-100 index closing at 163,304.13, a significant drop of 0.78% from the previous day”s close of 164,590.41. Throughout the trading day, the index fluctuated between a high of 165,025.86 and a low of 163,041.98, indicating sustained bearish sentiment.
The KSE-30 index mirrored the broader market”s negative trajectory, declining by 367.30 points, or 0.73%. The index concluded the session at 49,842.51, down from its prior close of 50,209.81.
Investor participation also saw a sharp contraction. The daily turnover in the regular market slumped to approximately 1.04 billion shares, a stark decrease from the 1.50 billion shares traded in the preceding session.
This decline in trading volume was accompanied by a considerable reduction in traded value, which fell to just over PKR 35 billion from the previous day”s figure of more than PKR 49.5 billion.
The widespread sell-off resulted in a significant erosion of investor wealth. The total market capitalization diminished to PKR 18.81 trillion from its previous standing of nearly PKR 19 trillion, marking a substantial financial loss for market participants.
Activity in the futures market also dwindled, with traded value decreasing to PKR 9.41 billion compared to the previous day”s PKR 13.22 billion, further cementing the day”s bearish outlook.