PSX turns bullish, gains more than 440 pts

KARACHI: Following the bearish trend, the 100-index of the Pakistan Stock Exchange (PSX) turned bullish on Tuesday, gaining 447.90 points, a positive change of 0.57 percent before closing at 78,987.09 points against 78,539.19 points on the last working day.

A total of 316,245,462 shares were traded during the day as compared to 375,599,184 shares the previous day, whereas the price of shares stood at Rs 17.074 billion against Rs 19.350 billion on the last trading day.

As many as 433 companies transacted their shares in the stock market, 225 of them recorded gains and 164 sustained losses, whereas the share price of 44 companies remained unchanged.

It is pertinent to mention here that the PSX on Monday witnessed bearish trend as the benchmark KSE-100 index lost over 1,500 points.

According to the PSX website, the market opened with a downward trend, with the benchmark index declining by 771.87 points at 9:45 am, bringing the index down to 79,346.02 points.

At day’s close, the benchmark index settled at 78,539.18 points, down by 1578.71 from the previous close of 80,117.89 on Friday.

Market experts attributed the decline to rising political uncertainty, with the ruling coalition considering a ban on the opposition party.