PSX Plunges Over 16,000 Points Amid Massive Sell-Off
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Islamabad: The Pakistan Stock Exchange (PSX) suffered a sharp downturn on Monday, with the benchmark KSE-100 Index dropping 16,089.17 points (9.57%) to close at 151,973.00, compared to 168,062.17 in the previous session, according to official data.
The ready market saw a trading volume of 809.55 million shares valued at Rs 48.51 billion, up from 536.24 million shares worth Rs 25.54 billion on the prior day. Market capitalization fell to Rs 17.185 trillion from Rs 18.930 trillion.
Of the 483 companies traded, 21 advanced, 413 declined, and 49 remained unchanged. K-Electric Limited led the volume chart with 163.3 million shares, followed by WorldCall Telecom (82.6 million) and F. Nat.Equities (41.8 million).
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The top gainers were Supernet Technologies Limited, up Rs 18.70 to Rs 1,410.70, and JDW Sugar Mills Limited, rising Rs 7.48 to Rs 900.00. On the losing side, Unilever Pakistan Foods Limited fell Rs 1,371.83 to Rs 23,883.17, while PIA Holding Company LimitedB dropped Rs 944.94 to Rs 16,500.00.
In the futures market, turnover stood at 140.74 million shares worth Rs 6.93 billion, down from 594.73 million shares valued at Rs 27.09 billion in the previous session. All 322 companies traded in the futures segment declined.
Analysts attributed the massive sell-off to a combination of profit-taking, economic uncertainty, and global market volatility, which weighed heavily on investor sentiment.
