PSX plunges over 4,700 points amid broad-based selling

Volatility persists as regional shocks, weak sentiment keep market range-bound

KARACHI:

The Pakistan Stock Exchange (PSX) witnessed sharp volatility on Monday, highlighting its heightened vulnerability to regional shocks amid prevailing macroeconomic uncertainty.

By 11.29am, the benchmark index had dropped 668.157 points amid strong selling pressure across the board. The decline slowed later in the session, with the index standing at 146,937.37 at 12.09pm, down 4,770.14 points (-3.14%).

Read More: Late sell-off drags PSX lower by 1,200 points

Market activity showed the index opening at 147,316.28, compared to the previous close of 151,707.51. During the session so far, the index has touched a high of 151,813.61 and a low of 144,656.97, with total volume clocking in at 180.20 million shares and traded value reaching Rs15.83 billion.

Selling was observed in key sectors including automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing companies, power generation, and refinery stocks, reflecting broad-based bearish sentiment.

Despite the early slump, the market showed signs of partial recovery from its intra-day lows. However, the session remains underway, with volatility potentially persisting amid cautious investor participation. The fragile sentiment is likely to keep the market range-bound and reactive to incoming developments.