- The KSE-100 index dropped 6,029 points, closed at 173,574.
- The market broke six important levels in one session.
- Political uncertainty and poor company results caused investors to sell.
- Some stocks went up, while others went down sharply.
The Pakistan Stock Exchange (PSX) saw a major drop on Monday. KSE-100, the main stock market index, dropped by 6,029 points and ended the day at 173,574.
This means the overall value of the 100 largest companies in Pakistan fell sharply. It is the third biggest drop in the history of the stock market and the largest drop this year.
During the day, the market could not stay above six important levels: 179,000, 178,000, 177,000, 176,000, 175,000, and 174,000 points. These levels are watched by investors to see market performance.
Analysts said that political uncertainty and disappointing results from many companies led investors to sell their shares.
Trading Highlights and Biggest Movers of the Day
A total of 302 million shares were traded, with a total market value of around Rs29.6 billion.
Most Active Stocks
- K-Electric Limited fell 3.98% to Rs8.21, with 48 million shares traded.
- Hum Network Limited rose 4.92% to Rs12.80, with 44 million shares traded.
- Worldcall Telecom Limited fell 4.91% to Rs1.55, with 43 million shares traded.
Top Gainers
- Trust Securities & Brokerage Limited rose 19.37% to Rs2.28.
- 786 Investments Limited rose 10.03% to Rs17.88.
- Agritech Non-Voting (Pref) Class A rose 10.01% to Rs38.67.
Top Losers
- LSE Capital Limited fell 16.96% to Rs1.91.
- Gulistan Spinning Mills Limited fell 12.09% to Rs6.91.
- EKohinoor Industries Limited fell 10.01% to Rs50.27.
Experts at Topline Securities said the market fell because many companies reported results that were lower than investors expected.
