The Pakistan Stock Exchange (PSX) experienced a calamitous trading session on Monday, with its benchmark KSE-100 Index suffering a colossal decline of nearly 7 per cent, wiping out more than a trillion rupees in market capitalisation amidst a significant surge in trading volume.
According to data released by the exchange, the KSE-100 Index plummeted by a staggering 11,015.95 points, or 6.99 per cent, to close at 146,480.15. The index navigated a volatile day, recording an intraday high of 150,174.10 before succumbing to intense selling pressure that dragged it to a low of 144,119.44. The previous closing was recorded at 157,496.10.
The downturn was widespread, as reflected in the KSE-30 Index, which also registered a substantial fall. The index shed 3,333.70 points, a decrease of 6.90 per cent, to conclude the day”s trading at 44,996.51 against its prior close of 48,330.20.
The severe retreat in equity values resulted in a substantial erosion of investor wealth. The total market capitalisation contracted by over PKR 1.097 trillion, settling at PKR 16.60 trillion compared to the previous session”s PKR 17.70 trillion.
Despite the steep fall in share prices, market activity intensified. The turnover in the regular market segment swelled to 621.65 million shares, a marked increase from the 363.15 million shares traded in the preceding session.
Consequently, the traded value also saw a significant jump, rising to PKR 37.12 billion from a previous value of PKR 23.11 billion, indicating a high-volume sell-off.
Activity in other market segments, such as Deliverable Futures Contracts (DFC) and Off-Market Deals (ODL), also displayed heightened volumes and traded values compared to their last recorded figures.