Karachi: In a recent assessment of the Pakistan Stock Exchange (PSX), JS Global Capital Limited reported a downturn, with the KSE-100 index closing 335 points lower at 85,250. This decline occurred despite a positive market opening, influenced by a broader shift in asset allocation from fixed income to equities.

According to JS Global, the market's volume also saw a decrease, dropping to 324 million shares. The report noted significant activity in stocks such as PRL, HUBC, WTL, KOSM, and PIBTL. Despite the day's losses, there were points of interest at the recent Shanghai Cooperation Organization (SCO) summit, where Pakistan and Russia agreed to enhance cooperation in commerce, energy, and technology sectors, which might sustain investor interest in equities.

The PSX's market capitalization experienced a slight decrease of 0.10% from the previous day. In terms of performance for the year, the KSE-100 has seen a gain of 36.51%. However, the report underscores a near-term expectation for the market to remain flat and sluggish, with ongoing adjustments in asset allocations likely impacting market movements.