The Pakistan Stock Exchange’s (PSX) benchmark index KSE-100 witnessed a plunge of over 5,000 points on Thursday after seeing a significant recovery a day earlier.
The KSE-100 declined by 5,405.48 points or 3.41 per cent to close at 152,907.96 points from the previous close of 158,313.44 points.
The KSE-100 rose to an intraday high of 157,591.23 points at around 10:05am, and then declined to an intraday low of 152,668.07 points at around 3:15pm, before settling at 152,907.96.
On Wednesday, value-hunting lifted the benchmark KSE-100 index above the 158,000 mark amid cautious optimism over easing geopolitical tensions in the Middle East.
The KSE-100 index had closed at 158,313, up 4,347 points, reflecting improved market sentiment.
During the session, the index touched an intraday high of 158,586 points and a low of 155,199, as buying interest remained firm across key sectors.
Analysts attributed the positive momentum a day earlier to softer international oil prices and expectations of de-escalation in regional tensions, which bolstered investor confidence.
Topline Securities on Wednesday said the market’s upward trajectory was supported by strong performances from index-heavy stocks, including MCB Bank, Fauji Fertiliser Company, Systems Ltd, Lucky Cement and Hub Power Company, which collectively added 1,613 points to the index.
Trading activity remained robust on Wednesday, with total volume recorded at around 612 million shares and turnover at Rs34.5 billion. Unity Foods led the volumes chart, with approximately 72m shares traded.
Ali Najib of Arif Habib Ltd said the PSX witnessed broad-based buying, with the benchmark index gaining 2.82pc as sentiment improved on the back of easing geopolitical concerns.
He noted that renewed diplomatic efforts, including Pakistan’s role in facilitating dialogue between the United States and Iran, helped fuel optimism about a potential de-escalation.
