Pakistan Stock Exchange rebounds after yesterday’s losses

By: News Desk      Published: 12:06 PM, 7 Apr, 2020
Pakistan Stock Exchange rebounds after yesterday’s losses

The Pakistan Stock Exchange (PSX) opened the trading on a positive note, as it gained 397.54 points during Tuesday’s early session.

After experiencing huge losses on Monday with the KSE-100 down by 1,042.64 points, the market was seemingly experiencing a rebound as the index stood at 30,976.69 after starting the day from the previous level of 30,579.15 by the time this report was being filed.

A total of 51,440,809 shares have so far been traded during a session where the KSE-100 Index was experiencing an upward curve with small fluctuations.

Earlier on Monday, the KSE-100 Index HAD slipped to 30,579.15 after losing 1,042.64 points.

It was unlike the previous week which saw the market making some of the lost ground after weeks of huge losses, as the index is down by 24.93 percent since Jan 1.

On Friday, the KSE-100 Index had closed the week at 31,621.79, meaning that market gained 2,116.21 points on Thursday and Friday.

This upward surge was in complete contrast with what the market witnessed in the previous weeks when the KSE-100 went south.

During the same period, it also witnessed the worst single-day performance after losing over 2,400 points on March 16, while the trade suspension mechanism was employed on several occasion to stop the bloodbath.

The recent series of extraordinary losses began last month. The KSE-100 Index was recorded at 39,382.11 on March 5 but it ran into a downward slide since then till it reached 27,228.80 on March 25.

However, it saw some recovery after that as the KSE-100 Index reached 31,621.79 on April 3 followed by an overall trend of losses with the index currently recorded at 30,976.69.