Stock market: midday status of KSE-100

KARACHI: The Pakistan Stock Exchange (PSX) continued its positive momentum from the past week earlier on Monday, but quickly drifted downwards by the midday.

Opening at 46,421.15 points, the index posted a minor gain to 46,590.26 points. However, part of these gains eroded by 11 a.m. when the benchmark KSE-100 index touched the lowest of the morning at 46,364.76 points. By midday, the trading movement had moderately recovered to 46,385.22 points, but still remained lower than the opening.

PSX posts moderate gains towards the end of trading week

During the past week, the stock market saw mixed results with minor gains exceeding minor losses. The second halves of the trading days saw the KSE-100 in recovery for the most days of the outgoing week.

On Friday, the index showed positive movements but the trading volume remained quite low with only a little over 34 million shares trading hands in the market. On Monday, nearly 44 million shares had traded hands by the noon.