Share market posts quick gains after short decline

KARACHI: Pakistan Stock Exchange posted quick gains of 366 points early on Thursday morning. The index opened at 56,680.06 points and was seen hovering at 57,097.71 points within two hours of trading.

On Monday, the Pakistan Stock Exchange (PSX) sustained its upward trajectory, reaching a historic milestone as the benchmark KSE-100 Index surpassed the 56,500 level for the first time. Monday’s trading session witnessed a substantial gain of over 1,100 points, culminating in the benchmark index concluding at 56,523.58, reflecting a notable increase of 2.04 per cent.

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Tuesday’s session, however, posted moderate gains closing at 56,665.93 points after fluctuating through the day. On Wednesday, the index continued with fluctuations, and by noon had managed only 18.42 points gain to hover around 56,684.35 points.

Thursday, continued with early morning downturn followed by recovery. The index touched the lowest of 56,531.53 points soon after opening, and then recovered to hover above opening point.

The trading volume was positive through the morning with over 118 million shares trading hands before noon. A range of companies were seen leading the upward movement, with the energy sector being most prominent.