KSE-100 index plunges over 3,000 points amid renewed market volatility

The Pakistan Stock Exchange witnessed significant volatility on Friday as the benchmark KSE-100 index dropped sharply in early trading. By 10:20am, the index had fallen by 3,129.83 points, representing a 1.94 percent decline from its previous close of 161,210.67 points. The index stood at 158,080.84 points during this period, familiar with the matter.

The sharp decline followed a strong performance in the previous session, when the KSE-100 index had surged by 5,433.46 points and closed in positive territory. However, Friday’s session was marked by pronounced fluctuations. Reports indicate that the index experienced a steep drop around 9:20am, briefly recovered by 9:25am, and then fell again by 9:34am. A partial recovery was noted until about 9:40am, after which the index resumed a steady downward trend.

Among the most actively traded stocks during the session were K-Electric, Cnergyico PK Limited, and Unity Foods Limited. K-Electric’s share price declined by 2.36 percent to Rs7.86, with a trading volume of 17,217,331 shares. Cnergyico PK Limited saw its share price fall by 3.58 percent to Rs6.73 on a volume of 13,663,326 shares. In contrast, Unity Foods Limited recorded a gain of 5.06 percent, with its share price rising to Rs9.57 and a trading volume of 12,651,079 shares.

Analysts noted that the previous day’s strong recovery was followed by renewed volatility, leading to the sharp downturn observed on Friday. The session’s early movements highlighted the unpredictable nature of the market, with brief periods of recovery quickly followed by further declines.

Market participants are closely monitoring developments as the trading day progresses, with attention focused on whether the index will stabilize or continue its downward trajectory.