KARACHI – Pakistan Stock Exchange (PSX) saw major recovery today, with market climbing more than 3,000 points in intra-day trading after end of Pakistan Tehreek-e-Insaf (PTI) protests. These protests caused considerable turmoil in the market, which had earlier suffered heavy losses this week.
On Tuesday, KSE-100 Index experienced sharp decline of 3,505.62 points, or 3.71%, closing at 94,574.16 points, down from 98,079.78 points the previous day. This marked the largest point drop in the index’s history.
However, the market bounced back on Wednesday with noticeable increase in trading activity. A total of 1,113,617,710 shares were traded, up from 640,258,528 shares on the previous day. The value of the shares traded also increased to Rs. 43.165 billion, compared to Rs. 25.623 billion on the prior day.
In total, 455 companies were involved in the day’s trading, with 52 posting gains, 355 recording losses, and 48 remaining unchanged. The rally is seen as a result of the easing of political instability, which has helped restore confidence among investors.
Pakistan Stock Exchange slumps by over 2000 points amid political chaos in Islamabad
