Karachi: The Pakistani stock market had a volatile day, opening positively but ultimately closing down by 620 points at 85,585. The market saw significant trading volume with 513 million shares exchanged, highlighting a busy trading session amidst shifting investor sentiments.

According to JS Global, the market’s downturn came despite initial gains and is expected to maintain a flat and sluggish outlook in the near term. This forecast aligns with the ongoing asset allocation shift from fixed income to equities, which may be influencing current market behaviors. Additionally, recent developments at the SCO summit, where Pakistan and Russia agreed to enhance cooperation in commerce, energy, and technology sectors, are expected to sustain investor interest in equities, although this did not translate into market gains today.