Stock Market Plunges Below 80,000 Points as Index Drops 517 Points

The Pakistan Stock Exchange experienced a significant downturn at the start of the trading week, with the benchmark KSE-100 Index falling below the 80,000-point mark. On the first trading day of the week, the Index recorded a substantial drop of 517 points, plummeting from 80,000 points to 79,600 points.

The decline began with a drop of 391 points, bringing the Index down to 79,726 points. The bearish trend continued throughout the day, eventually leading to a further decrease. This follows a strong performance in the previous week, where the Index had surged to a high of 81,500 points. However, the market ended the week on a negative note, with the Index falling below the psychological 80,000-point level on Friday.

Due to the market downturn, the prices of 63.38% of listed stocks fell, resulting in significant losses for investors. The total market capitalization shrank by approximately PKR 191.7 billion. Despite some recovery towards the end of the day, the Index closed with a loss of 1,722 points at 80,117 points.

Trading volumes increased by 1.84% compared to the previous day, with 47.9 million shares changing hands across 446 companies. The market saw price increases in 91 stocks, decreases in 305, and stability in 50.