Bulls return to PSX as KSE-100 recovers over 190 points

Pakistan Stock Exchange (PSX) turned green on Tuesday and the benchmark KSE-100 Index recovered 193.54 points, closing at 116,633.16 points against 116,439.62 points on the previous session.

In the morning the stock market opened in red following shedding over 2,000 points on Monday, however, later the buying trend helped it to recover some losses, and in the end the benchmark KSE-100 Index closed in green with a positive change of 0.17%.

A total of 157,267,167 shares were traded during the day as compared to 311,970,520 shares the previous trading day, whereas the price of shares stood at Rs16.010 billion against Rs20.953 billion on the last trading day.

As many as 436 companies transacted their shares in the stock market, 155 of them recorded gains, and 214 sustained losses, whereas the share price of 67 companies remained unchanged.

The high level of the stock market during the session was 116,904.55 points while the low was 115,877.88 points.

Buying was observed in key sectors including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, and refineries. Index-heavy stocks NRL, PRL, PSO, SNGPL, MARI, OGDC and PPL traded in the green.

On Monday, the PSX faced selling pressure as the benchmark KSE-100 Index lost over 2,000 points, with analysts attributing the downturn to concerns related to the International Monetary Fund (IMF) loan.