KSE-100 index drops by 4.32% or 4795.32 points closing at 106,274.97 points
\n Karachi
\nThe Pakistan Stock Market faced a record single-day decline once again on Thursday, with the index dropping by 4.32% and closing at 106,274.97 points.
\nThe market saw a high of 111,745.02 earlier in the day but fell to a low of 105,937.37 points during intra-day of trading.
\nVolume reached 531,310,276 reflecting a relatively active trading session.
\nThe previous close was recorded at 111,070.29,.
\nThe PSX had begun the week on a bullish note, with the KSE-100 index briefly soaring past 117,000 points during the week, marking a historic high for the market.
\nEarlier on Wednesday, the PSX faced a significant drop as well, with the KSE-100 index plummeting by 3,790 points (3.30%), closing at 111,070.29.
\nThis drop marked one of the largest single-day declines in history. The market experienced high volatility, briefly touching 116,236.70 before falling to 110,896.27.
\nKey factors contributing to the decline included concerns over stock overvaluation, currency depreciation, global equity market drops, and the ongoing discussions between the Pakistani government and the IMF regarding taxes and structural reforms.
\nMajor sectors like fertiliser, oil and gas, and banking were the biggest contributors to the slump.
\nThe bearish sentiment was amplified by political instability, the weaker rupee, and the unresolved IMF targets.
\nLocal mutual funds, which had been net buyers for the past 14 sessions, turned into net sellers. Despite the decline, certain stocks like Pakistan State Oil and Indus Motor showed gains. Trading volume stood at 1.11 billion shares with a value of Rs60 billion.
\nExperts noted that the decline was driven by profit-taking activities in key sectors, revenue shortfalls, and weak global oil prices.
\nWhile the market showed a sharp fall, analysts remain optimistic about the long-term prospects, citing the market\u2019s resilience and strong fundamentals.<\/p>\n","protected":false},"excerpt":{"rendered":"
KSE-100 index drops by 4.32% or 4795.32 points closing at 106,274.97 points Karachi The Pakistan Stock Market faced a record single-day decline once again on Thursday, with the index dropping by 4.32% and closing at 106,274.97 points. The market saw a high of 111,745.02 earlier in the day but fell to a low of 105,937.37 […]<\/p>\n","protected":false},"author":2,"featured_media":450556,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-450533","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n