The Pakistan Stock Exchange (PSX) experienced a historic downturn on Wednesday. Intense selling pressure led to a sharp drop in the KSE-100 Index. During the trading session, the index plunged by 3,964 points. By the end of the day, the market lost three psychological levels, closing at 111,070 points.
Market Capitalization Shrinks by Rs. 437 Billion
The market’s total capitalization saw a significant reduction. It fell by Rs. 437 billion, dropping from Rs. 145 trillion to Rs. 141 trillion. This marked one of the steepest declines in recent times.
The impact of the sell-off was widespread. The prices of 73.94% of the shares listed on the exchange fell. This left investors worried about further losses.
Positive Start Fails to Sustain
The trading day started on a positive note. The KSE-100 Index climbed to a high of 116,236 points in early trading. However, the momentum did not last. Selling pressure increased as investors opted for profit-taking in key sectors.
Key Sectors Under Selling Pressure
Major sectors faced intense selling pressure. These included:
- Automobiles
- Cement
- Commercial banks
- Oil and gas exploration companies
- Power generation and refineries
The stocks in these sectors fell sharply, pulling the index into the negative zone.
KSE-30 and All-Share Index Also Decline
The KSE-30 Index dropped by 1,286 points. It closed at 34,909 points, down from 36,196 points. Similarly, the KSE All-Share Index fell by 2,172 points, closing at 70,168 points.
Trading Volume and Value Drop
The volume of shares traded also declined. On Wednesday, 1.11 billion shares worth Rs. 60 billion were traded. This was lower compared to Tuesday’s 1.25 billion shares worth Rs. 62 billion.
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Most-Traded Stocks
The most-traded stocks included:
- WorldCall Telecom
- Sunridge Foods
- Bank of Punjab
- Pak Refinery
- Pak Elektron
These stocks remained in focus but witnessed mixed trends.
Notable Price Movements
The stock prices of some companies fluctuated significantly:
- Al-Ghazi Tractors rose by Rs. 51.29, closing at Rs. 564.23.
- Indus Motor Company gained Rs. 43.66, reaching Rs. 2,058.57.
- Unilever Foods fell by Rs. 107.16, ending at Rs. 20,892.86.
- Rafhan Maize Products dropped by Rs. 98.02 to Rs. 8,902.
Market Sentiment Remains Negative
The steep fall has rattled investor confidence. Analysts attribute the decline to growing economic uncertainty and political instability. Market participants are now closely monitoring any positive developments to stabilize the situation.
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