PSX opens strong, gains over 500 points
Business
PSX opened positively on Friday, rising over 500 points to 159,621, following a bearish trend the day before. Investors are optimistic about a potential recovery after recent declines
KARACHI (Dunya News) – Pakistan Stock Exchange (PSX) made a positive start on Friday a day after it witnessed bearish trend as investors remained cautious.
The KSE-100 index surged over 500 points in early trading to reach 159,621 points compared to previous close of 159,096 points.
Traders and analysts are hopeful that this upward momentum will continue throughout the day, signaling a possible recovery after the recent declines.
A day earlier, the stock market witnessed a bearish trend on Thursday as the benchmark KSE-100 Index lost 481.40 points, a negative change of 0.30 percent, closing at 159,096.79 points compared to 159,578.19 points on the previous trading day.
A total of 957.304 million shares were traded in the ready market compared to 860.262 million shares on Wednesday, while the traded value declined to Rs30.446 billion from Rs34.848 billion. The market capitalization decreased from Rs18,271.364 billion to Rs18,220.473 billion.
Out of 476 active companies in the ready market, 199 closed in the positive, 230 in the negative, and 47 remained unchanged.
