Karachi: In a significant downturn for the Pakistan Stock Exchange, the KSE100 and KSE30 indices experienced substantial losses, closing at 173,518.81 and 51,709.62, respectively. The KSE100 index fell by 3.56%, shedding 6,408.24 points, while the KSE30 index saw a decline of 3.72%, losing 1,996.09 points.

According to JS Global, these declines were part of a broader market weakness that also saw the PSX market capitalization drop by 3.48%, amounting to Rs 19,583.67 billion, or approximately $70.44 billion USD. Notably, the market capitalization reached a 52-week high of Rs 21,304.78 billion, while the 52-week low was recorded at Rs 16,401.40 billion, indicating significant market volatility over the past year.

The trading session also saw mixed performances among individual stocks. Unilever Pakistan Foods Limited (UPFL) emerged as a gainer, increasing by 0.36% to close at Rs 25,360.00. In contrast, Honda Atlas Cars (HCAR) and JDW Sugar Mills Limited (JDWS) faced declines of 0.33% and 0.46%, respectively. The total volume of shares traded was 912.61 million, with a total value amounting to Rs 45.61 billion.

Market analysts attributed the downturn to a combination of global market pressures and local economic uncertainties. While regional markets such as China and Malaysia showed gains of 1.4% and 1.3% respectively, others like India and Taiwan experienced declines, adding to the complex dynamics affecting investor sentiment.