The Pakistan Stock Exchange (PSX) experienced its worst trading day ever on Thursday, as the benchmark KSE-100 index plunged by a record-breaking 4,795 points. This massive drop brought the index down to 106,274 points, marking a 4.51% decline from the previous day’s close.
This historic crash surpassed the previous day’s decline, when the market fell by 3,790 points, making it the largest single-day drop in terms of points in the PSX’s history.
The trading volume on Thursday reached 1.15 billion shares, slightly higher than the 1.1 billion shares traded the previous day. However, the total value of shares traded dropped to Rs. 52.14 billion, compared to Rs. 60.14 billion on Wednesday.
The Pakistan Stock Exchange (PSX) faced intense selling pressure, with index-heavy stocks such as MARI, HUBCO, NRL, HBL, NBP, MCB, and UBL trading in the red.
In a note, Intermarket Securities Limited commented on the situation, stating, “It is possible that the negative trend continues today.” However, the brokerage firm also highlighted a potential silver lining, adding, “Further downside creates a buying opportunity, especially for investors who missed the recent rally since late November. Most of the market’s driving factors – liquidity, falling interest rates, and low political noise – remain intact.”
Out of the 472 companies that traded on the stock exchange, 371 recorded losses, 66 saw gains, and 35 remained unchanged. The widespread selling pressure reflected the market’s bearish sentiment, with investors offloading shares across various sectors.
In a related development, data released by the State Bank of Pakistan (SBP) revealed a significant increase in the repatriation of profits and dividends by foreign investors.
