PSX plunges nearly 6,700 points as selling pressure grips market

KARACHI: The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) witnessed a sharp bearish trend on Thursday, plunging 6,682.81 points – a decline of 3.74 percent – to close at 172,170.29 points, compared to 178,853.10 points on the previous trading day, according to official PSX data.
The significant drop reflects broad-based selling pressure across key sectors, as investor sentiment remained weak throughout the session. Market activity also slowed considerably compared to the previous day.
In the ready market, a total of 542.979 million shares were traded, with a cumulative value of Rs 27.363 billion. This marks a notable decline from the previous session’s 697.682 million shares, which were valued at Rs 49.992 billion. The contraction in both volume and value indicates cautious participation and reduced risk appetite among investors.
Market capitalization fell sharply to Rs 19.514 trillion, down from Rs 20.227 trillion a day earlier, erasing over Rs 700 billion in value within a single session.
Out of 483 active companies in the ready market, only 32 closed in positive territory, while 384 declined and 67 remained unchanged – underscoring the depth of the market downturn.
WorldCall Telecom led the volume chart with 84.183 million shares traded, followed by K-Electric Limited with 62.013 million shares and Trust Securities & Brokerage (R) with 45.71 million shares.
Among the top gainers, Dawood Lawrencepur Limited posted an increase of Rs 25.88 to close at Rs 668.89, while Shahmurad Sugar Mills Limited gained Rs 20.90 to settle at Rs 399.93.
On the losing side, heavyweight stocks weighed heavily on the index. PIA Holding Company LimitedB recorded a steep decline of Rs 1,758.34, closing at Rs 16,576.66. Unilever Pakistan Foods Limited also fell significantly, shedding Rs 627.21 to close at Rs 26,027.79.
Activity in the futures market mirrored the bearish sentiment. Turnover stood at 139.974 million shares with a traded value of Rs 8.902 billion, compared to 164.954 million shares worth Rs 13.111 billion in the previous session. Out of 322 companies in the futures market, only 6 registered gains, while 316 declined – highlighting overwhelming selling pressure in derivative counters as well.
Market analysts attribute the sharp correction to profit-taking after recent gains, coupled with prevailing economic uncertainties and cautious investor behavior. The steep fall suggests heightened volatility, with investors closely monitoring macroeconomic indicators and policy signals in the coming sessions.
The market’s performance in the next few trading days will likely determine whether this downturn represents a short-term correction or the beginning of a broader consolidation phase.