The index decreased from the previous close of 81,850.50. During intraday trading, the PSX experienced a significant decline, with shares dropping over 600 points as the benchmark KSE-100 index fell by 622.46 points, or 0.76%, settling at 81,214.45 points, down from the previous close of 81,850.50 points by 12:22 PM.

The EFG Hermes Pakistan CEO, Raza Jafri, attributed the market’s downturn to disappointing results from state-owned oil exploration companies. He also noted that independent power producers (IPPs) were under pressure due to reports of the government planning to revise their contracts.

On Monday, bearish trend was witnessed at the Pakistan Stock Exchange (PSX) as its KSE-100 index lost 223.95 points, a negative change of 0.27 percent.

Due to the bearish trend, the index closed at 81,850.50 points against 82,074.45 points on the last working day.

As per the data available at the PSX website, as many as 400,309,071 shares were traded during the day as compared to 482,373,803 shares the previous trading day, whereas the price of shares stood at Rs 18.690 billion against Rs.30.188 billion on the last trading day.

A total of 439 companies transacted their shares in the stock market, 143 of them recorded gains and 237 sustained losses, whereas the share price of 59 companies remained unchanged.

The data revealed that the three top trading companies were Pace (Pak) Limited with 30,381,268 shares at Rs5.39 per share, WorldCall Telecom with 29,117,310 shares at Rs 1.28 per share and Oil and Gas Development with 23,080,653 shares at Rs 138.61per share.