The objective of this research is to explore the inherent complexities and multifractal properties of the underlying distributions in the daily Planetary K-index time series collected from NOAA Space Weather Prediction Center. In this article, non-stationary and nonlinear characteristics of the signal have been explored using Smoothed Pseudo Wigner–Ville Distribution and Delay Vector Variance algorithms, respectively, while Recurrence Plot, 0–1 test, Recurrence Quantification Analysis and correlation dimension analysis have been applied to confirm and measure the chaos in the signal under consideration. Multifractal detrending moving average has been used to evaluate the multifractality and also recognise the singularities of the signal. The result of these analyses validates the nonstationary and nonlinear characteristics of the Planetary K-index signal, while a significant presence of deterministic chaos in it has also been noticed. It has also been confirmed that the Planetary K-index exhibits multifractal nature with positive persistence. The long-range temporal association and also the large pdf are discovered to be the primary factors that contribute to the multifractal behaviour of the Kp-index.