Pakistan Stock Exchange (PSX) experienced a significant downturn on Wednesday, with the benchmark KSE-100 index plunging over 700 points. The market, which initially showed strength, reversed course in the afternoon amid a nationwide internet outage.
KSE-100 index started the day on a positive note, gaining over 500 points by 11 AM. However, as internet connectivity issues began to disrupt trading activities, the index entered the red zone. By the end of the trading session, it had lost 0.94%, closing at 77,886 points.
PTA attributed the internet disruptions to a fault in the PTCL system, affecting services across the country. The slow and unreliable connectivity hindered investor activity, contributing to the market’s decline.
While some analysts pointed to selling pressure as a contributing factor, the widespread internet outage was primarily blamed for the sharp drop in the index.
Worldcall Telecom Limited emerged as the most actively traded stock, followed by Kohinoor Spinning Mills Limited and TPL Properties Limited.
