The Pakistan Stock Exchange (PSX) closed on a positive note on Thursday after the KSE 100 index lost 590 points earlier in the day only to recover later.
The bumpy session was caused by political and economic uncertainty in the country. After the market opened on Thursday morning bears ruled the floor and KSE100 dropped below 42,000 mark, shedding 590 points.
However, a buying spree followed as the investors bought shares that had just become cheaper. Consequently, the stock market managed to recover all the lost points by the end of the trading session. KSE 100 closed 35.22 points high of the day at 42898.44.
According to the Pakistan Stock Exchange, a total of 336 stocks were traded on Thursday, out of which 180 stocks gained while 137 stocks declined and 19 stocks remained unchanged. In terms of transactions, the trading volume was 15.96% lower than on Wednesday.
Shares of Treet Corporation, TPL, Telecard, WorldCall Telecom, and Ghani Global were the major gainers with Gatron Industries and High Noon being the biggest gainers in terms of significant business activity.
On the other hand, Nestle Pakistan and Sapphire Textile shares fell the most.
The PSX has experienced some of the worst trading sessions this week with KSE100 losing 1447.67 on Monday — and after a recovery of 111 points on Wednesday — 641 points on Wednesday.
Depleting forex reserves and the pressure on the Pakistani rupee have affected the confidence in the market.
