PSX suffers losses as KSE-100 drops over 700 points

KARACHI: The Pakistan Stock Exchange (PSX) opened in the green on Thursday, with the benchmark KSE-100 index rising by 386.48 points to reach 114,882.18 within the first two minutes of trading. The initial trading volume stood at 767,812.

This rise followed the PSX closing at 114,495.70 in Wednesday’s session. However, the gains were short-lived as the stock market soon turned negative. By 9:37 AM, the KSE-100 index had fallen by 459.46 points, settling at 114,036.24, with the trading volume increasing to 5,633,244.

The market continued to fluctuate throughout the morning, posting modest gains by 10:04 AM, with the KSE-100 index up by 250.09 points at 114,745.79. The volume had climbed to 27,051,480 by this time. By 11:00 AM, the highest level recorded was 114,884.63, while the lowest level reached was 114,036.24.

Several KSE-100 companies saw a decline in their stock prices. MEHT dropped by 6.26 per cent to Rs625, EFUG fell by 5.77 per cent to Rs112.09, POML decreased by 5.09 per cent to Rs144.26, SCBPL slid by 3.43 per cent to Rs53.67, and PSEL was down by 2.62 per cent to Rs862.

On the other hand, some companies experienced gains. YOUW rose by 6.25 per cent to Rs4.25, KOHC climbed by 3.72 per cent to Rs384.98, PIBTL increased by 3.68 per cent to Rs8.73, PTC gained 3.31 per cent to Rs25.61, and ENGROH was up by 2.90 per cent to Rs217.50.

Looking at the broader market trends, the PSX has traded between a 52-week range of 59,191.86 and 118,735.10. Over the past year, the PSX has risen by approximately 79.78 per cent, although it is down by 0.47 per cent on a year-to-date basis.

The PSX extended its losses around 1:41 PM, with the KSE-100 index plummeting 736.63 points to a new intraday low of 113,759.07. At the same time, the trading volume stood at 109,359,950 shares.

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