PSX Bloodbath Sees KSE-100 Index Lose 4,800 Points in Worst Ever Crash 

The Pakistan Stock Exchange (PSX) witnessed its worst ever day in history on Thursday as the benchmark KSE-100 index plummeted by over 4,700 points. Massive selling pressure saw the KSE-100 index lose 4,795 points to close at 106,274 points, down 4.51 percent over the previous closing.  This was KSE-100 index’s biggest ever single-day decline (in terms of points), eclipsing yesterday’s crash when the market fell by 3,790 points. In a note brokerage house Topline Securities said that the sharp sell-off was triggered by significant redemptions from local mutual funds, compounded by year-end profit-taking by institutions, collectively dragging the market into turmoil. MARI (-10 percent) extended its losing streak, locking at the lower circuit for the third consecutive session. Persistent concerns over its overvaluation, particularly concerning near-term fundamentals, fuelled the relentless sell-off, it added. Leading the downward trajectory were heavyweights MARI, HUBC, UBL, OGDC, and ENGRO, which together contributed a staggering 1,556 points to the index’s overall decline, Topline added. A total of 1,150,921,277 shares were traded during the day as compared to 1,109,421,372 shares the previous day. The price of shares stood at Rs. 52.14 billion against Rs. 60.14 billion on the last trading day.   472 companies transacted their shares in the stock market today with 66 of them recording gains and 371 sustaining losses, whereas the share price of 35 companies remained unchanged.  In a related development, the latest State Bank of Pakistan (SBP) data showed that foreign investors in Pakistan have significantly increased their repatriation of profits and dividends, with an over 110 percent surge in the first five months of current fiscal year (FY25).