Stock Exchange in green zone after yesterday’s bloodbath

The investors breathed a sigh of relief on Tuesday as the Pakistan Stock Exchange (PSX) didn’t repeat the previous day’s performance and floated along in the positive territory.

When the session closed for the day, the KSE-100 Index stood at 31,222.74 as it gained 189.75 points after starting the session from the level of 31,032.99 during a session which saw a total of 105,596,411 shares being traded.

Earlier on Monday, PSX witnessed another day of a bloodbath on the trading floor with the KSE-100 Index down by 1,000.22.

When the session was closed on Monday, the index stood at 31,032.99 after starting the day from the level of 32,033.20. A total of 126,266,592 shares were traded during the day.

The latest downward trend being witnessed by the market began on March 6 with the index closing the session a day earlier at 39,382.11. Less than three weeks later, it reached 27,228.80 on March 25.

However, it saw some recovery after that as the KSE-100 Index reached 31,621.79 on April 3.

This upward surge was in complete contrast with what the market witnessed in the previous weeks when the KSE-100 went south. However, it proved to be just a small bump with no long-term positive consequences.

So it wasn’t a surprise that the stock market was unable to sustain this short-lived sequence of gains as the index went nowhere since then and currently stands at 31,222.74.