The Pakistan Stock Exchange (PSX) experienced a significant downturn on Thursday, with its benchmark KSE-100 index shedding over 6,000 points and wiping out more than PKR 568 billion in market capitalisation during a turbulent trading session.
The KSE-100 index concluded the day at 182,338.12 points, a substantial decline of 6,042.27 points or 3.21 per cent from its previous close of 188,380.39. Throughout the session, the index fluctuated between a high of 188,923.40 and a low of 181,961.15, indicating severe selling pressure.
Similarly, the KSE-30 index recorded a steeper percentage fall, dropping by 3.63 per cent. It closed at 55,927.16, down by 2,105.04 points from the prior session”s 58,032.20. The index”s daily trading range was between 58,223.55 and 55,832.14.
Despite the sharp fall in indices, the traded value in the regular market saw a considerable increase, climbing to PKR 66.41 billion from the previous day”s PKR 48.88 billion. However, the overall share turnover registered a slight decrease, with 933.10 million shares changing hands compared to 953.92 million in the preceding session.
The widespread bearish sentiment resulted in a significant erosion of investor wealth, as the total market capitalisation fell to PKR 20.62 trillion from PKR 21.19 trillion, representing a substantial loss for stakeholders.