Stock market recovers after yesterday’s correction; up 2,000 points

KARACHI: The Pakistan Stock Exchange (PSX) experienced a volatile day on Tuesday. Right from the opening of trading until closing, the benchmark KSE-100 index kept fluctuating. After opening at 109,970.38 points and an instant 700 points hike, the index tumbled down, only to recover over 1,500 points.

However, by closing time, the index had gone through the day’s lowest at 107,711.40 points, and recovered once again to close at 108,896.65 points. In sum total, KSE-100 lost 1,073 points on Tuesday.

Stock market fluctuates, but bulls stay strong

Wednesday, brought back the same fluctuation in opening hours, when the PSX gained nearly 600 points almost instantly. However, instead of tumbling down again, the market showed optimism and strength and the index began to show stability.

Close to 11 AM, the index had gained over 2,000 points, touching the morning’s highest at 111,005.06 points. According to market experts, the correction phase has passed, with the investor confidence now returning to the market.