The Pakistan Stock Exchange (PSX) witnessed a massive sell-off on Tuesday, with the benchmark KSE-100 index experiencing its largest-ever single-day drop in terms of points. The index plunged by 3,790 points, closing at 111,070.29, marking a 3.41% decline from the previous session.
This sharp decline surpassed the previous record set on November 26, 2024, when the index fell by 3,505.62 points, making it the worst single-day performance in the PSX’s history.
Across the board, selling was observed across major sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration, oil marketing companies (OMCs), power generation, and refineries. Key index-heavy stocks such as HUBCO, PRL, NRL, SSGC, SNGP, MARI, OGDC, PPL, POL, ENGRO, HBL, MCB, MEBL, and UBL all closed in the red.
Market experts attributed the decline to profit-taking by investors.
Trading volumes also saw a dip, with 1.1 billion shares changing hands compared to 1.25 billion shares traded in the previous session. The total value of shares traded stood at Rs. 60.14 billion, slightly lower than the Rs. 62.72 billion recorded on the last trading day.
Out of 472 companies that traded on the exchange, 349 recorded losses, while only 89 managed to post gains. The share prices of 34 companies remained unchanged.
