The Pakistan Stock Exchange witnessed a sharp decline on Wednesday, with the KSE-100 index closing at 165,823 points with a decline of 1.54 percent, reflecting a decline of 2,588 points.
The index opened at 168,863 points and initially touched a high of 169,686 points, but later fell to a low of 165,391 points due to increasing selling pressure. The volume of 448.99 million shares was recorded in the day’s trading, indicating activity in the market, but the overall trend remained negative.
Although the index has gained 32% since the beginning of the financial year, the performance in the current calendar year so far has been negative 4.73%, reflecting the recent volatility.
The most pressure in the market came from the banking and oil and gas sectors, where UBL, NBP, OGDC, ENGROH and PPL played a significant negative role, while stocks like MTL, DGKC, CHCC, HCAR and BWCL had a limited positive impact.
Analysts say that investors are adopting a cautious attitude due to the uncertain economic situation and sectoral weakness.
