The Pakistan Stock Exchange (PSX) came under significant pressure on Thursday as investors opted for profit-taking and cautious trading, triggering a sharp downturn in the benchmark index during intraday activity.
The KSE-100 Index plunged by 2,066.10 points during trading hours, slipping to 180,983.70 points. The decline marked a negative change of 1.13 percent compared to the previous close of 183,049.80 points, reflecting broad-based selling across key sectors.
Market analysts attributed the downturn to a combination of profit-booking after recent gains and uncertainty surrounding economic and policy developments. The absence of strong buying interest further amplified the downward momentum.
Previous Session’s Rally
The sharp fall comes a day after the market had posted a solid recovery. On Wednesday, the KSE-100 Index gained 896.25 points, registering a 0.49 percent increase to settle at 183,049.81 points, up from 182,153.55 points in the preceding session. The earlier rally had been supported by selective buying in heavyweight stocks and improved investor confidence.
Trading Activity Declines
Trading volumes also contracted on Thursday compared to the previous session. The ready market recorded a total volume of 734.67 million shares, with the traded value standing at Rs35.39 billion. In contrast, the previous session saw 1.06 billion shares exchanged, amounting to Rs37.88 billion.
Despite the intraday slump, overall market capitalization showed a marginal increase, rising to Rs20.710 trillion from Rs20.634 trillion a day earlier.
Market Breadth Mixed
Out of 477 companies that participated in trading, 208 posted gains, while 223 recorded losses. Meanwhile, share prices of 46 companies remained unchanged, indicating a mixed but slightly negative market breadth.
Financial experts noted that volatility may persist in the coming sessions as investors closely monitor economic indicators, corporate earnings announcements, and policy developments.
