Can stock market break ‘recovery then drop’ trend today?

KARACHI: Throughout the current week, the Pakistan Stock Exchange (PSX) has been following a similar trend, early recovery followed by fluctuations and eventually closing the trading day in red.

After bloodbath on Monday, the benchmark KSE-100 index experienced a boost early on Tuesday, in line with the trend of recovery in global markets. However, soon after the gains turned into losses internationally as well as at the benchmark KSE-100 index. Towards the end of the day PSX had once again picked up, ending the trading period with a little over 100 points growth.

PSX posts 500 points gains amidst selling pressures

On Wednesday, once again the capital market’s index experienced a notable decline after posting initial recovery, closing the day nearly 600 points below its intraday peak after posting moderate gains early in the morning.

On Thursday (today), the index opens at 77,114.49 points amidst hopes of maintained recovery without the declining trend that has followed all through this week.

Yesterday, the KSE-100 index fluctuated, hitting the day’s highest at 77,800 points and stooping to the day’s lowest at 77,086 points.