The Pakistan Stock Exchange (PSX) witnessed a significant downturn on Tuesday, wiping out over PKR 73.6 billion from the market capitalization as both major indices closed in negative territory amid a bearish spell.
The benchmark KSE-100 Index plummeted by 752.05 points, a decline of 0.47 percent, to settle at 160,935.13. Throughout the session, the index fluctuated between a high of 162,344.66 and a low of 160,583.90.
Similarly, the KSE-30 Index experienced a contraction, shedding 269.99 points or 0.55 percent to conclude the day at 48,680.99. Despite the negative sentiment, overall market activity showed an increase in trading volume. The regular market turnover rose to approximately 1.55 billion shares, compared to the previous day”s 1.21 billion shares.
However, the traded value in the regular market saw a reduction, dropping to PKR 38.85 billion from PKR 41.37 billion on the preceding day.
The futures market also recorded higher participation, with turnover climbing to 288.06 million from 244.88 million, and its traded value inching up to PKR 9.89 billion.
The session’s downturn resulted in a substantial erosion of investor wealth, as the total market capitalization decreased to PKR 18,376.32 trillion from its previous close of PKR 18,449.93 trillion.