PSX plunges as KSE-100 index falls over 6,600 points

During the session, the KSE-100 Index plunged by as much as 7,145 points.

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a sharp downturn on Thursday, with heavy selling pressure dragging the benchmark index deep into negative territory by the close of trading.

During the session, the KSE-100 Index plunged by as much as 7,145 points, while the market ultimately settled with a loss of 6,682 points.

The benchmark index closed at 172,170 points, after touching an intraday low of 171,647 points. Earlier in the session, the index had climbed to the 179,000-point level, reflecting extreme volatility throughout the day.

The severe downturn erased billions of rupees from investors’ portfolios as broad-based selling dominated the market.

Market activity remained significant, with around 220 million shares traded during the day, carrying a total value of approximately Rs22 billion.

Out of the total traded companies: 32 companies recorded gains and 384 companies saw their share prices decline.

The overwhelming number of declining stocks highlighted the intensity of the bearish sentiment prevailing in the market.

Analysts attributed the steep fall to strong selling pressure and investor caution, as the market struggled to sustain early gains.