Stock market maintains moderate strength

KARACHI: The Pakistan Stock Exchange (PSX) has been posting a robust recovery for almost two weeks now. Except sporadic downturns in the past fortnight, the index has been staying positive.

Friday saw the benchmark KSE-100 opening at 61,914.34 points and closed with 901 points gain at 62,815.81 points. Yesterday (Monday), the stock exchange opened with a steep hike of approximately 600 points and ended the day with overall 490 points gains.

Stock Market grows 600 points in week’s first trading session

Today, however, the index opened with a moderate increase but plunged sharply before beginning recovery once again. After touching the highest of the day at 63,610.94 points and lowest of the day at and 63,069.89 points, the index was hovering around 63,445.15 points close to noon.

The rise and fall in the index came from multiple sectors showing an overall market momentum. After several days, the top leaders in both the hike and decline were sectors other than the energy and E&P segments. This marks a positive movement for the index, showing a wider recovery.

The market snapshot at approximately 11:30 AM looked like this: