PSX posts mild recovery

KARACHI: The benchmark KSE-100 index opened the week with a bearish tone, losing 147 points during Monday’s trading session. Tuesday saw the index continuing with the same trend losing 357.33 points during the trading day.

On Wednesday, however, saw the index change direction towards recovery, posting gains of 179 by midday. The market opened at 45,508.39 points, reaching 45,687.78 by the afternoon.

Stock market: investors in limbo, keeps PSX bearish

The upcoming Monetary Policy Committee (MPC) meeting scheduled for September 14 is holding the investors in a limbo, with expectations of the interest rates going up even further. That is exerting selling pressures keeping the index low.

The volume of trading also remained lukewarm at a little over 45 million shares until Tuesday afternoon.