Stock market to make third attempt at recovery following consecutive losses

KARACHI: The Pakistan Stock Exchange (PSX) opens today on Tuesday’s closing at 71,102.54 points after yesterday’s (May 1) bank holiday. On Tuesday, the index lost nearly 600 points during trading, after slipping down by over 1,000 points on Monday.

Stock market closes in red, two days in a row

On both trading days of the current week benchmark KSE-100 index showed upwards movement during early trading, only to register steep losses towards the end of the day.

Industry experts are of the opinion that after the positive trend seen through last week, investors built up their investments in certain companies, causing the KSE 100 index to reach new record levels. However, later in the day, when the index was at its highest point, profit-taking causing the index to lose some of its earlier gains.