Volatile trading session at PSX as KSE-100 drops 0.55%

The Pakistan Stock Exchange (PSX) experienced a volatile session on Wednesday, with the benchmark KSE-100 Index fluctuating throughout the day.

The market opened positively, with the KSE-100 reaching an intra-day high of 166,947.19 points. However, brackly news-taking during the session pulled the index down, resulting in an intra-day low of 165,109.84 points.

At the close of trading, the KSE-100 settled at 165,266.74 points, marking a decrease of 907 points, or 0.55%.

In a key development, the World Bank downgraded its GDP growth forecast for Pakistan, lowering the projection for FY2025 from 3.1% to 2.6%. The revision was attributed to the ongoing catastrophic floods, which have significantly impacted agricultural output and the broader economy. The World Bank also warned of inflationary pressures due to disruptions in the food supply chain.

Meanwhile, the Pakistan Bureau of Statistics (PBS) reported a GDP growth rate of 3.04% for FY2025, reflecting the country’s economic performance for the year.

On Tuesday, the PSX also closed in negative territory, with the KSE-100 Index dropping by 1,578.66 points, or 0.94%, as heavy selling by local institutions overshadowed early gains.