Karachi: The Pakistan Stock Exchange (PSX) witnessed a significant downturn, with both the KSE-30 and KSE-100 indices experiencing notable losses. The KSE-100 index fell by 3.09% to close at 111,326.58, while the KSE-30 index dropped by 3.61% to settle at 33,993.15. This decline reflects a broader market trend, with the PSX market capitalization also falling by 3.07% to reach Rs 13,520.60 billion.

Among the gainers, Pakistan Oilfields Limited (POML) led the surge with a 10% rise, closing at Rs 178.67. Allied Bank Limited (AKBL) and Pakgen Power Limited (PKGP) also made gains, closing up by 4.75% and 4.46%, respectively. However, the overall sentiment remained bearish, with several stocks suffering losses.

AGP Limited was among the major losers, dropping 10% to close at Rs 186.05. Nishat Mills Limited (NML) and Cnergyico PK Limited (CNERGY) also faced significant declines, falling by 9.89% and 9.22%, respectively. These losses contributed to the downward trend in the PSX market capitalization, which now stands at US$ 48.12 billion.

The daily trading volume on the PSX reached 490.95 million shares, with a total trading value of Rs 31.12 billion. Despite the high turnover, the market's overall performance showed signs of investor caution and market volatility.

In regional markets, varying degrees of performance were observed. Malaysia's KLSE index rose by 1.6%, while China's SSEA and Korea's KOSPI indices saw slight declines. The Indian BSESN index experienced a marginal drop of 0.1%, while Indonesia's JKSE index showed a modest gain of 0.3%.

The PSX's trajectory for the year remains mixed, with a year-to-date decline of 6.73% in market capitalization. As investors navigate the uncertain market conditions, the PSX continues to show fluctuations influenced by both domestic and international factors.