Share market plunges, but then recovers

KARACHI: Trading began on a positive note on Monday, after the previous week posted notable gains and fluctuation. The benchmark KSE-100 index opened at Friday’s closing of 57,063.15 points and quickly amassed over a 100 points gain to hover around 57,191.09 points.

However, soon after that the index plunged deeply, trading at 56,738.39 points an hour into trading.

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The share market managed to recover some of these losses by noon, and the index was trading at 57,084.05 points with over 100 million shares changing hands.

Despite the fluctuations, the index was mostly green by noon, with energy and telecom companies leading the charge towards positive growth.

Last Monday, the Pakistan Stock Exchange (PSX) surpassed the 56,500 level.