Stock market drops, then climbs after holidays

stock market

KARACHI: After crossing the psychological mark of 58,000 points on Wednesday, the share market crossed 59,000 points mark on Friday.

On Monday, the Karachi Stock Exchange market summary showed a hopeful picture despite showing difficulty in holding pace early in the morning.

After opening at 59,086.35 points, the benchmark KSE-100 index dropped to the lowest of the day at below 59,000 mark. Around 10 a.m. the index was seen hovering at 58,999.30 points.

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However, by noon, the index has recovered 167 points to trade at 59,254.07 points. By the afternoon, the index has jumped even higher and by 3 p.m. the benchmark index had grown 712.73 points, to trade at 59,799.08 points.

Trading volume was heartening on the first trading day of the week, with over 260 million shares trading hands.

Companies from myriad sectors were notable contributors to the positive momentum, showing that the growth was not driven by any specific segment.

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