A stock broker reacts while monitoring the market on the electronic board displaying share prices during trading session at the Pakistan Stock Exchange, in Karachi on July 3, 2023. Photo: Reuters/ File
KARACHI:
The Pakistan Stock Exchange (PSX) experienced a sharp correction on Thursday as the benchmark KSE-100 index declined significantly in intraday trading.
The index stood at approximately 151,366 points, down 2,926 points or -1.90% from yesterday’s close of 154,292 points. The day’s range fluctuated between a low of 150,728 and a high of 152,699, reflecting heightened selling pressure across the board.
Trading activity remained robust, with volume reaching over 79 million shares and traded value exceeding Rs8-10 billion in the regular market. A total of around 569 symbols were in play, with decliners outnumbering advancers (roughly 302 down vs. 139 up, and 128 unchanged based on earlier snapshots).
Read: PSX soars on renewed interest
The pullback follows a strong rally yesterday, when the KSE-100 surged over 4,000 points (+2.85%) in a broad-based buying spree driven by sectors like autos, fertilizers, banks, cement, and oil & gas. Today’s retreat erased much of that gain, contributing to a year-to-date decline of about -13%, despite the index remaining up around 28-29% over the past year. Highs earlier this year touched near 191,000, highlighting ongoing volatility.
