PSX plunges almost 6,700 factors as promoting stress grips market

KARACHI: The benchmark KSE-100 Index of the Pakistan Inventory Change (PSX) witnessed a pointy bearish development on Thursday, plunging 6,682.81 factors – a decline of three.74 % – to shut at 172,170.29 factors, in comparison with 178,853.10 factors on the earlier buying and selling day, based on official PSX knowledge.
The numerous drop displays broad-based promoting stress throughout key sectors, as investor sentiment remained weak all through the session. Market exercise additionally slowed significantly in comparison with the day gone by.
Within the prepared market, a complete of 542.979 million shares have been traded, with a cumulative worth of Rs 27.363 billion. This marks a notable decline from the earlier session’s 697.682 million shares, which have been valued at Rs 49.992 billion. The contraction in each quantity and worth signifies cautious participation and lowered threat urge for food amongst buyers.
Market capitalization fell sharply to Rs 19.514 trillion, down from Rs 20.227 trillion a day earlier, erasing over Rs 700 billion in worth inside a single session.
Out of 483 lively firms within the prepared market, solely 32 closed in optimistic territory, whereas 384 declined and 67 remained unchanged – underscoring the depth of the market downturn.
WorldCall Telecom led the quantity chart with 84.183 million shares traded, adopted by Ok-Electrical Restricted with 62.013 million shares and Belief Securities & Brokerage (R) with 45.71 million shares.
Among the many prime gainers, Dawood Lawrencepur Restricted posted a rise of Rs 25.88 to shut at Rs 668.89, whereas Shahmurad Sugar Mills Restricted gained Rs 20.90 to settle at Rs 399.93.
On the dropping facet, heavyweight shares weighed closely on the index. PIA Holding Firm LimitedB recorded a steep decline of Rs 1,758.34, closing at Rs 16,576.66. Unilever Pakistan Meals Restricted additionally fell considerably, shedding Rs 627.21 to shut at Rs 26,027.79.
Exercise within the futures market mirrored the bearish sentiment. Turnover stood at 139.974 million shares with a traded worth of Rs 8.902 billion, in comparison with 164.954 million shares value Rs 13.111 billion within the earlier session. Out of 322 firms within the futures market, solely 6 registered positive factors, whereas 316 declined – highlighting overwhelming promoting stress in by-product counters as effectively.
Market analysts attribute the sharp correction to profit-taking after current positive factors, coupled with prevailing financial uncertainties and cautious investor habits. The steep fall suggests heightened volatility, with buyers carefully monitoring macroeconomic indicators and coverage alerts within the coming classes.
The market’s efficiency within the subsequent few buying and selling days will probably decide whether or not this downturn represents a short-term correction or the start of a broader consolidation section.