Pakistan Stock Exchange ends week with 537-point gain
Amid the fluctuations especially during the morning session, the Pakistan Stock Exchange (PSX) on Friday ended the day in the positive territory as the KSE-100 Index closed at 30,667.41 after gaining 537.58 points (1.78 percent).
Earlier in the morning, the PSX closed the first session [due to the Friday prayers break] in the green zone despite minute-by-minute fluctuations at 30,549.88 after starting the day from the level of 30,129.83 points.
Unlike the last two weeks, the PSX began trading on a positive note by gaining 402.82 points in the first 54 minutes.
At the start of the business, the KSE-100 Index was at 30,129.83 and had climbed up to 30,439.63 by 9:54am with the trading of 89,517,690 shares on the last working day of the week at the market.
However, fluctuations came into effect at this point and the index tumbled to 29,903.81. At one point, the index was recorded at 29,903.81. But it was back in the green zone since then.
The KSE-100 Index is down 24.71 percent since Jan 1, while the total loss suffered during last one year stands at 19.50 percent.
It unlike yesterday (Thursday) – or like any other day of the week for that matter – when the market had suffered huge early losses, resulting in 45-minute trade suspension.
The day had started with more bloodbath as trading was once again suspended after the KSE-100 Index shed 1,752.01 points (5.76 percent) during early trading.
When the circuit breaker [45-minute break] was applied at 9:37am, the index stood at 28,664.04 after starting the day from the previous day’s level of 30,416.05.
However, the KSE-100 Index recovered some ground and stood at 30,129.83 by the time the business day ended, representing a 0.94 percent loss.
Even on Wednesday, trade suspension didn’t stop the downward trend as the stocks suffered more losses even after the resumption.
The KSE-100 Index was down by 2,200.88 points (6.75 percent), as it closed at 30,416.05. At one point, the index was down to 30,378.68, the lowest level recorded during the trading.
Trading was suspended for 45 minutes at around 10:16am after the KSE-100 Index tumbled by 1,682.77 points (5.16 percent) during early trading.