PSX bounces back with 589-point surge after early setback
Business
PSX rebounded with a 589.10-point gain, reaching 160,690.12 after an early dip below 160,000. The KSE-100 index saw a 0.37% rise, recovering from 1.27% drop the previous day. Trading volume increased.
KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) has showed a positive movement after it suffered bearish trend earlier in the day due to cautious behevaiour of investors.
During intraday trading, the KSE-100 index rebounded with 589.10 points to reach 160,690.12 points, marking a positive change of 0.37 percent compared to previous close of 160,10.02 points.
Earlier in the day, the benchmark index plunged below 160,000 points level to reach 159,406 points before the bulls regain control on the trading floor.
A day earlier, the 100-index witnessed a bearish trend on Tuesday, as the benchmark KSE-100 Index lost 2,062.78 points, showing a negative change of 1.27 percent, closing at 160,101.03 points against 162,163.81 points on the previous trading day.
A total of 476 companies transacted their shares in the stock market; 113 recorded gains, 324 sustained losses, while 39 remained unchanged.
The overall trading volume in the ready market stood at 1,018.74 million shares compared to 1,006.69 million shares on the prior day, whereas the traded value increased to Rs36.94 billion from Rs34.82 billion. Market capitalization fell to Rs18.46 trillion from Rs18.70 trillion.
