Karachi: After several days of continuous growth and setting records in the Pakistan Stock Exchange, a severe downturn occurred on Wednesday, leading to a significant drop in the index.
According to market sources, a sudden surge in the buying and selling of shares at a higher volume by market participants resulted in a sudden and sharp downturn in the capital market, the KSE 100 index fell below 66,000.
Due to the severe downturn in the PSX, the prices of 74% of shares decreased in PSX, causing a loss of Rs 175 billion.
The business week started with extraordinary momentum on the third day when, for the first time in the country’s history, the index crossed the 67,000 milestone. However, subsequently, the market faced severe bearish conditions, and by the end of the business day, the KSE-100 index closed at 65,280.16 points, witnessing a significant decrease of 1,146.62 points.
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