Pakistan’s equity market suffered another sharp sell-off on Monday, wiping out the gains made last week as investor sentiment turned decisively negative.

The benchmark Pakistan Stock Exchange KSE-100 Index plunged 5,478 points, or 3.16 percent, to close at 167,691 points. Selling pressure was intense from the opening bell, with the index briefly tumbling as much as 6,283 points to an intraday low of 166,886.

Market activity remained heavy despite the decline, with 204.7 million shares changing hands during the session. The total value of shares traded stood at Rs. 20.6 billion.

The rout was broad-based, as losses overwhelmed gains across the board. Out of 567 companies that traded during the day, only 42 managed to close higher, while 389 ended in the red. Share prices of 136 companies remained unchanged.

Power, banking, and telecom stocks dominated volumes, reflecting widespread selling by investors amid growing uncertainty. K-Electric led the volume chart, followed by WorldCall Telecom, Bank of Punjab, and First National Equities.

Market participants attributed the sharp decline to persistent selling pressure and a lack of positive triggers, which continued to weigh on confidence and push the index below key psychological levels.