The KSE-100 Index experienced another volatile ride on Tuesday, with panic-induced selling taking it down by over 590 points in intra-day trading, before investors cherry-picked at attractive valuations to help cause a significant recovery.
At close, the Pakistan Stock Exchange’s (PSX) benchmark KSE 100-share Index ended with a fall of 116.66 points or 0.24% to finish at 48,539.06.
Market talk suggested the index’s plunge came on the back of falling crude prices, which have been the source of worry for the past four sessions.
Additionally, pressure amid the ongoing Panama case is keeping investors on their toes.
Growing uncertainty regarding the Securities and Exchange Commission of Pakistan’s next move against brokers has also taken its toll, resulting in mounting tension at the local bourse.
On Tuesday, trading volumes rose to 195 million shares compared with Monday’s tally of 133 million. The value of shares traded during the day was Rs11.98 billion.
TRG was the volume leader with 14.4 million shares, gaining Rs0.53 to close at Rs53. SNGP followed with 12.1 million shares, losing Rs0.41 to close at Rs129.71, while Power Cement completed the list of top three with 11.94 million shares, gaining Rs0.96 to close at Rs19.28.
The KSE-100 Index experienced another volatile ride on Tuesday, with panic-induced selling taking it down by over 590 points in intra-day trading, before investors cherry-picked at attractive valuations to help cause a significant recovery.
At close, the Pakistan Stock Exchange’s (PSX) benchmark KSE 100-share Index ended with a fall of 116.66 points or 0.24% to finish at 48,539.06.
Market talk suggested the index’s plunge came on the back of falling crude prices, which have been the source of worry for the past four sessions.
Additionally, pressure amid the ongoing Panama case is keeping investors on their toes.
Growing uncertainty regarding the Securities and Exchange Commission of Pakistan’s next move against brokers has also taken its toll, resulting in mounting tension at the local bourse.
On Tuesday, trading volumes rose to 195 million shares compared with Monday’s tally of 133 million. The value of shares traded during the day was Rs11.98 billion.
TRG was the volume leader with 14.4 million shares, gaining Rs0.53 to close at Rs53. SNGP followed with 12.1 million shares, losing Rs0.41 to close at Rs129.71, while Power Cement completed the list of top three with 11.94 million shares, gaining Rs0.96 to close at Rs19.28.