Following dropping over 350 points in the early hours of the trading day on Monday, The benchmark KSE-100 index of the Pakistan Stock Exchange turned around and gained over 1100 points in the intra-day trading.
After gaining 1110 points KSE-100 index reached 111433 points by recording a 100% increase. The total value of PSX reached 17,263,405,528 and the total Volume was recorded at 301,680,121.
Shares of 261 companies increased, shares of 151 companies declined while shares of 12 companies remained unchanged.
Later at the end of the trading session, the market closed at 111377.90 up by 1055 points.
Buying was observed in key sectors including power generation, OMCs, fertilizer, and automobile assemblers. Index-heavy stocks including INDU, HBL, EFERT, PSO, SHELL, NRL, PR,L and HUBCO traded in the green.
“Many stocks have reached attractive levels and there could be some fresh buying at these levels. Nonetheless, the near-term market may continue to grapple with low liquidity,” Intermarket Securities said in a note on Monday.
“The next International Monetary Fund (IMF) Review remains a key milestone to cross and may revive investor sentiment,” it added.
During the previous week, PSX remained under severe selling pressure and closed in deep red with heavy losses. The benchmark KSE-100 index plunged by 3,932.79 points on a week-on-week basis and closed at 110,332.94 points.
