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Stock market continues recovery, puts 800 points recovery


stock market

KARACHI: In a remarkable turnaround on Tuesday, the Pakistan Stock Exchange (PSX) staged a robust recovery, concluding the session on a positive note following a two-day downturn.

Wednesday continued the momentum, with 824.71 points gain in the first half of the trading day. The index opened at 61,226.92 points, and was seen hovering around 62,051.63 points a little before noon.

Stock market rebounds: KSE-100 closes 2.7% stronger

Yesterday, the market initially experienced volatility with the benchmark KSE-100 index dipping below the 60,000 mark, driven by subdued investor confidence amid ongoing political uncertainty. However, bulls swiftly entered the market, reversing the downward trend as they capitalised on the opportunity to acquire stocks at discounted prices.

Notably, the index suffered a cumulative loss of 3,079 points in the two sessions following the recent elections.

Yesterday, the index found support from commercial banks, fertilisers, cement, power generation and distribution, and engineering. However, oil and gas exploration companies continued to experience negativity. Today the growth was more widespread across the index showing an overall improvement in the investor confidence and the trading sentiment.

Stock market plunges again; investors brace for impact

Here is what the market looks at noon on Wednesday:

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