KARACHI (Dunya News) – The Pakistan Stock Exchange (PSX) recorded slight recovery on Wednesday a day after it witnessed massive bearish trend due to rising political and security concerns in the country.
During the intraday trading, the KSE-100 index gained 379.19 points to reach 158,249.69 points, marking a positive change of 0.24 percent compared to previous close of 157,870.50 points.
A day earlier, the Pakistan Stock Exchange (PSX) witnessed a sharp sell-off as the benchmark KSE-100 Index plunged by 3,667.90 points, or 2.27%, to close at 157,870.50, dragged down by renewed political tensions and security concerns.
Investor confidence took a hit after a bomb blast outside Islamabad’s district and sessions court heightened worries over the country’s fragile security environment.
The decline also followed uncertainty surrounding the government’s 27th Constitutional Amendment Bill, tabled in the National Assembly a day after its passage in the Senate.
Market breadth was negative with 79 stocks advancing, 364 declining and 41 unchanged in the ready market of total 484 companies. In the futures market 13 advanced, 305 declined out of total 318.