PSX shows recovery after sliding down for two days

KARACHI: The Pakistan Stock Exchange (PSX) has finally turned the tide and posted gains on the third trading day of the week.

Opening at 46,277.65 points, the index sunk down even further to 46,238.12 points soon after trading opened. However, quick recovery in the benchmark KSE-100 was seen and by noon it had reached 46,448.33 points. Some fluctuations are still undergoing in the index, but the market is holding strong at 80 points above opening at 46,356.70 points.

Tuesday’s trading follows Monday’s movements

Political temperature is rising in the country, with the Election Commission of Pakistan’s (ECP) announcement of general elections in January next year. Side by side, the expected investments from UAE and the upcoming IPOs at the index are offering stability to investor sentiments.

Combined together, the index is showing minor fluctuations up and down, without any shocking movements for the past few weeks.