Stock market stays more green than red amidst fluctuations

KARACHI: The stock market experienced significant volatility in the early hours of Tuesday, showcasing a dynamic start to the trading day. Wednesday also saw Pakistan Stock Exchange (PSX) posting a mix of gains and losses, eventually culminating into a positive end.

The benchmark KSE-100 index started the day on a positive note but very soon came under pressure from profit-taking on Wednesday. Thursday saw similar movement, with a quick hike to 64,936.75 points after opening at 64,646.84 points. By 11 AM, however, the index had deteriorated 157 points to hover around 64,489.64 points.

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The growth in the index was not limited to any sector, but the stocks in red mostly belonged to the telecom sector.

Investor speculation fueled by major earnings’ announcements expected for the upcoming week, rupee stability and potential positive news from IMF’s tranche review in January, are all adding to the hopeful-uncertainty for the traders in the market.

Overall trading volumes surpassed 90 million within two hours of trading on Thursday. The value of shares traded during this time was Rs 3.05 billion.