KSE 100 Drops Over 2600 Points in Major PSX Selloff

The Pakistan Stock Exchange (PSX) tumbled heavily on Thursday after the KSE-100 and KMI-30 indices came down following the investors’ selling. Investors seek to sell leading to heavy losses by both the leading index KSE-100 and KMI-30 at the Pakistan Stock Exchange (PSX) on Thursday.

At the close of the market, the KSE-100 index closed at 171,739.45 points, down 2,690.48 points, or 1.54 percent. The index’s highest level during the trading session was 175,237.60, while its lowest level was 171,655.09 points.

The volume of all the shares of the companies listed in the index was 242.21 million shares.

On the other hand, the daily KMI-30 also got battered and ended at 241,390.67 points, a loss of 3,889.84 points and 1.59 per cent. The index’s highest level during the trading session was 246,390.68, while its lowest level was 241,208.26 points, and the volume of shares of companies included in the index was 102.03 million shares.

Data shows that the performance of KSE-100 was 4.75% negative in the current fiscal year (FYTD), while it was 1.33% negative in the calendar year (CYTD).

On the other hand, the FYTD performance of KMI-30 was recorded at 6.19%, and the CYTD performance at 2.88% negative, reflecting the continued pressure on the market. Among the individual companies, ATRL, AIRLINK, CNERGY, BWCL and NESTLE provided limited support to the KSE-100 index, while UBL, FFC, ENGROH, LUCK and HUBC were among the stocks that had the most negative impact.

Similarly, in KMI-30, ATRL, PRL, AIRLINK and NRL stood out with positive points, while ENGROH, LUCK, FFC, HUBC and OGDC proved to be the stocks that put the most pressure on the index.

According to market experts, investors are keeping a close eye on upcoming economic indicators, corporate financial results, interest rate expectations and the overall economic situation. Due to these factors, the market trend in the coming trading sessions is likely to remain in line with these fundamental economic indicators.