Pakistan Stock Exchange (PSX) witnessed a severe bearish trend in the early trading on Wednesday as the benchmark KSE-100 Index dropped over 1500 points to 114,001.55 point within few minutes after the stock market opened.
At 9:35 the stock market was trading at 114,001.55 points against 115,532.43 points on the previous session.
Previous session:
Pakistan Stock Exchange (PSX) witnessed a bullish trend on Tuesday as the benchmark KSE-100 Index recovered 622.95 points with a positive change of 0.54%, closing at 115,532.43 points against 114,909.48 points on the previous session.
The market opened in the green and started recovering the losses of the previous session’s bloodbath, and within minutes reached 116,692.29 points with over 1500 points recovery; however, later the selling pressure reversed the stock market at the end it recorded a gain of 622.95 points.
On Monday the stock market faced a bloodbath with an over 8000 points drop and consequently suspension of the trading for about one hour.
Like other stocks market in the globe, PSX also suffered the effect of the US President Donald Trump tariff policy, however on Tuesday it got some stability and remained in green all the session.
A total of 337,701,056 shares were traded during the day as compared to 710,788,421 shares the previous trading day, whereas the price of shares stood at Rs 27.26 billion against Rs 43.023billion on the last trading day.
As many as 453 companies transacted their shares in the stock market, 273 of them recorded gains and 126 sustained losses, whereas the share price of 54 companies remained unchanged.
Buying momentum was observed in key sectors including automobile assemblers, cement, chemical, commercial banks, oil and gas exploration companies, OMCs and refinery. Index-heavy stocks including HUBCO, ARL, PSO, SNGPL, MARI, OGDC, PPL, HBL, MCB and NBP traded in the green.
