The Pakistan Stock Exchange (PSX) experienced a significant downturn on Tuesday, with the benchmark KSE-100 index plummeting by more than 1,300 points and erasing over PKR 114 billion from the market’s total capitalisation.
According to official data, the KSE-100 index closed at 173,150.42 points, a substantial fall of 1,303.52 points or 0.75 per cent from the previous day’s close of 174,453.94.
Throughout the trading session, the benchmark index fluctuated considerably, reaching an intraday high of 176,131.35 before touching a low of 171,693.40, indicating significant market volatility.
The bearish sentiment was also reflected in the KSE-30 index, which declined by 382.25 points, or 0.72 per cent, to settle at 52,816.28 compared to its previous position of 53,198.53.
Investor activity also witnessed a contraction. The daily turnover in the regular market decreased to 716.04 million shares from 773.29 million on the preceding day.
Consequently, the traded value contracted to approximately PKR 40.47 billion, down from the previous session”s PKR 46.24 billion.
The overall market capitalisation stood at PKR 19.66 trillion at the close of business, a notable reduction from the PKR 19.78 trillion recorded previously, signifying a substantial erosion of investor wealth.