The Pakistan Stock Exchange (PSX) experienced a downturn on Wednesday, with the benchmark KSE-100 index shedding over 243 points and wiping out more than PKR 36 billion from the market”s total value, despite a significant surge in overall trading activity.
The benchmark KSE-100 index concluded the session at 170,830.22, a decline of 243.51 points or 0.14 per cent from the previous day”s close. The index fluctuated between a high of 171,587.32 and a low of 170,641.13 during intraday trading.
Similarly, the KSE-30 share index also retreated, closing at 52,169.49 after a loss of 68.01 points, equivalent to a 0.13 per cent dip.
The bearish pressure resulted in a notable erosion of investor wealth, as the total market capitalization contracted to PKR 19,360.54 billion from its previous standing of PKR 19,396.80 billion.
In contrast to the falling indices, market participation showed considerable momentum. The total turnover in the regular market swelled to 811.56 million shares, a marked increase from the 650.14 million shares traded a day earlier.
The corresponding traded value also witnessed a substantial rise, climbing to PKR 29.79 billion compared to the previous session”s PKR 28.26 billion.
Activity in the deliverable futures contract (DFC) market saw a similar uptick in both volume and value, while the odd lot (ODL) market recorded a sharp decrease in transactions.