The Pakistan Stock Exchange (PSX) experienced a severe downturn on Thursday, with the benchmark KSE-100 Index plunging by more than 1,700 points, erasing over PKR 193 billion from the market’s total value in a single session.
The KSE-100 Index closed the trading day at 156,732.87, a significant drop of 1,732.19 points or 1.09% from the previous close of 158,465.06. The index demonstrated considerable volatility, fluctuating between an intraday high of 159,507.42 and a low of 156,327.61.
A similar bearish sentiment was observed in the KSE-30 Index, which recorded a steeper percentage decline. It shed 582.54 points, or 1.21%, to settle at 47,752.38. The index traded within a range of 48,597.04 and 47,632.09 throughout the day.
Investor participation also diminished, as reflected in the market”s trading volumes. The regular market turnover decreased to 848.3 million shares, down from 951.8 million in the preceding session. Consequently, the traded value fell to PKR 37.61 billion compared to the previous day’s PKR 41.31 billion.
The substantial decline in share values led to a significant erosion of investor wealth. The total market capitalization contracted to PKR 18.086 trillion from its previous standing of PKR 18.279 trillion.
Activity in the futures market showed an increase in volume to 561 million contracts from 482.3 million, though the traded value saw a slight decrease to PKR 26.61 billion.