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Stock market rebounds to end trading on positive note

KARACHI: The Pakistan Stock Exchange (PSX) regained control on Thursday, a day after it sustained losses as investors dumped stock fearing a meltdown.

The KSE-100 index declined early trading and reached its lowest level of 46,396.71 points. It regained control and end the day on a positive note. The index increased by 228.41 points (0.49%) and closed at 46,625.12 points.  The total volume of shares was 90.614 million valued at Rs6.672bn.

The lower-bench KSE-30 index increased by 48.05 points (0.26%) and closed at 18,607.68 points. The total volume of shares was 43.625 million. The KMI-30 index increased by 465.86 points (0.62%) and closed at 75,927.74 points, while the All-Share Index also increased by 100.65 points (0.32%) and closed at 32,072.33 points.

The most active stock was Ghani Global Ltd (GGL -7.11%) which saw 56.821 million shares traded at the stock market. This was followed by Telecard Ltd (TELE -0.61%), WorldCall Telecom Ltd (WTL -0.30%) and TPL Holdings (TPL -0.30%). The total volume of scripts was 41.117 million, 20.386 million, and 16.766 million respectively.

A day earlier, the stock sustained losses after global index provider MSCI announced to reclassify Pakistan to Frontier Market (FM) from the Emerging Market (EM) from December 1.