Stock Exchange bullish as KSE-100 Index gains 1,208.24 points
At last the Pakistan Stock Exchange (PSX) experienced bullish trend on Tuesday as it closed the day with the KSE-100 Index at 29.231,63 after gaining 1,208.24 points.
Although the market did not make any big gains in the early trading, the KSE-100 Index remained in the positive territory after starting the day at 28,023.39. But it was the afternoon session when most of the gains (4.31 percent in total) were made.
During the day, a total of 186,153,772 shares were traded on a day where the index at one point reached 29,334.55 but was also down as low as 28,023.39.
This much-awaited change came as the PSX has been missing any consistency or a high note that could help moving towards wiping out or at least making some of the lost ground in the current month. In fact, trade suspension mechanism has been employed on several occasions to stop the downward movement.
During the same period, it has also witnessed the worst single day performance after losing over 2,400 points on March 16. In fact, the KSE-100 Index is down 30.59 percent since January 1.
Earlier on Monday, the KSE-100 Index at one point was down as low as 27,467.35 (642.22 points), but PSX managed to minimise the losses by closing at 28,023.39 with an overall loss of 86.18 points.
The PSX remained in the negative territory for the entire session after starting the day from the previous level of 28,109.57.