Share market recovers after tumultuous day

KARACHI: The stock market has shown unpredictability in the current week with posting an impressive upwards trend on Monday, followed by fluctuations on Tuesday, and resuming recovery on Wednesday.

Yesterday (Tuesday), the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index experienced a notable shift. Initially, the index faced a bout of profit-taking pressure, resulting in a decline of approximately 446 points during early trading hours.

Pakistan Stock Exchange rebounds after early dip, closes marginally lower

However, later in the day the index rebounded from this low, ultimately concluding the day almost unchanged at 51,027.94 points. This represented a marginal decrease of 0.08 per cent, equivalent to 42.88 points.

On Wednesday (today), the index posted quick gains of 440.67 points within two hours of trading, and was seen hovering at 51,468.61 points by 11 a.m., with almost 83 million shares trading hands. Like yesterday’s decline, today’s rise was also led by E&P companies which were seen in green.