The Pakistan Stock Exchange (PSX) witnessed a significant bearish session on Wednesday, as the benchmark KSE-100 Index plummeted by 1,496.93 points to close at 166,145.35. The downturn erased more than 115 billion from the market”s total capitalization, signaling a sharp decline in investor sentiment.
The benchmark index, which started the day at 167,642.28, experienced considerable volatility. It reached an intraday high of 168,160.88 before succumbing to selling pressure, eventually hitting a low of 166,115.17. The day”s trading concluded with a substantial 0.89% drop from the previous session.
Reflecting the broad market trend, the KSE-30 Index also registered a major loss. The index shed 503.99 points, a 0.99% decrease, to settle at 50,496.18 after closing at 51,000.17 on the prior day.
The steep fall in share values resulted in a considerable erosion of wealth, with the overall market capitalization contracting to 18.915 trillion from 19.031 trillion.
Trading activity presented a mixed picture. The volume of shares in the regular market decreased to 593.08 million from the previous day’s 775.54 million. However, the value of traded shares saw a notable increase, rising to over 44.42 billion from 37.49 billion, indicating that transactions were concentrated in higher-priced scrips.
In contrast, the Deliverable Future Contract (DFC) market showed growth, with turnover increasing to 195.83 million and its value rising to 13.36 billion. Activity in the Off-Market (ODL) and Continuous Funding System (CSF) segments saw a decline compared to the prior session.