Share market plunges, then recovers

KARACHI: Pakistan Stock Exchange posts fluctuations, but overall stays positive on the third trading day of the week.

On Monday, the Pakistan Stock Exchange (PSX) sustained its upward trajectory, reaching a historic milestone as the benchmark KSE-100 Index surpassed the 56,500 level for the first time.

Monday’s trading session witnessed a substantial gain of over 1,100 points, culminating in the benchmark index concluding at 56,523.58, reflecting a notable increase of 2.04 per cent.

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Tuesday’s session, however, posted moderate gains closing at 56,665.93 points after fluctuating through the day. Today (Wednesday), the index continued with fluctuations, and by noon had managed only 18.42 points gain to hover around 56,684.35 points.

It is notable that Wednesday morning also saw the share market plunge down sharply to 56,433.04 points before posting recovery.

The trading volume was positive through the morning with over 156 million shares trading hands before noon. A range of companies were seen leading the recovery, showing an overall positive sentiment from all sectors.