Karachi: The Pakistan Stock Exchange experienced a sharp decline in its indices, with both the KSE30 and KSE100 indices recording significant drops. The KSE100 index fell by 5,478.62 points, representing a 3.16 percent decrease, closing at 167,691.08. Meanwhile, the KSE30 index saw a decrease of 1,715.28 points, which is a 3.23 percent decline, ending at 51,327.62.
According to JS Global, the market capitalization of the Pakistan Stock Exchange decreased to 18,971.59 billion rupees, a 3.22 percent drop. The daily turnover was 461.26 million shares, with a total value of 24.94 billion rupees, equivalent to 89.20 million USD. The decline in the indices was influenced by several significant losses among key stocks.
The top decliners included International Brands (IBFL), which saw a price drop of 9.87 percent to 220.07, and Nishat Chunian Power (NCPL), with a decline of 9.42 percent to 64.71. Other notable decliners were Nishat Power Limited (NPL) and TRG Pakistan Limited (TRG), with decreases of 9.37 percent and 9.04 percent, respectively.
Despite the overall downturn, some stocks managed to gain. Engro Fertilizers (EFERT) rose by 0.10 percent to 213.11, while other gainers included Unity Foods Limited (UPFL) and Hinopak Motors Limited (HINOON).
The stock market's year-to-date performance shows a negative trend, with the KSE100 and KSE30 indices decreasing by 3.66 percent and 3.71 percent, respectively. The market's volatility reflects broader economic challenges, with investors closely monitoring the situation for any signs of stabilization.
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