PSX gains 900 points, inherent sentiment still sluggish
Earlier, the 100-index received heavy battering on Monday.
KARACHI (Dunya News) - The share prices recorded recovery on the second day of the week after several companies found attractive for investors and index scored in excess of 900 points.
The Pakistan Stock Exchange (PSX) during the early hours moved both ways as received volley of buying and selling pressure. However, as the scrips reached attractive levels, investors believed that the companies which have fallen more than 20 percent has some room and could be bought to make quick bucks.
The 100-index which received heavy battering on Monday, losing 1900 points - the largest decline in a session in the history of the stock market after showing signs of improvement.
However, general believe of the market men was that the rise in the index would not last long and index might receive some fresh blows and index has room to slid by 1000 to 1500 points more in the coming sessions. The final from the JIT to arrive on July 10 which might lit another selling pressure from the nervous investors.
(Story by Haris Zamir)
