A wave of intense selling pressure engulfed the Pakistan Stock Exchange on Thursday, with the benchmark KSE-100 index plummeting by over 735 points and erasing more than PKR 84 billion from the market”s total value in a single tumultuous session.
The benchmark KSE-100 index concluded the trading day at 164,530.81, marking a substantial decline of 0.45% from its previous close of 165,266.75. The index demonstrated considerable volatility throughout the day, swinging between a high of 166,729.97 and a low of 164,306.77 before succumbing to the prevailing bearish trend.
Mirroring the broader market downturn, the KSE-30 index also retreated significantly. The index shed 181.86 points, representing a 0.36% loss, to settle at 50,635.12 compared to its previous position of 50,816.98.
The sharp downturn resulted in a considerable erosion of investor wealth. The total market capitalization diminished to PKR 19.06 trillion from PKR 19.14 trillion recorded a day earlier, signifying a staggering loss of approximately PKR 84.5 billion for market participants.
Despite the market”s negative trajectory, overall trading volume saw an upswing. The turnover in the regular market increased to 1.57 billion shares from 1.27 billion shares on the preceding day. In contrast, the total traded value experienced a contraction, falling to PKR 50.52 billion from PKR 61.13 billion, suggesting that selling was more pronounced in lower-value scrips.