Pakistan Stock Exchange (PSX) breathed a sigh of relief after the index gained more than 850 points during the session as some of the shares saw fresh buying from the banks, financial institutions and some individuals.
The market during the early hours was under pressure and saw a fall of 120 points however, some buying erupted from the seasoned investors lifting the index from week long bearish spell. The index during the session made a high of 42853.38.
The index recorded gains mostly because the share values in just two months received heavy battering and index has lost nearly 11000 points.
Ground realities are same, said an analyst, the tussle between institutions still knocking the door and index recovered owing to oversold position, he added. The market is anxiously looking for the some big economic and political news to change the perception of the domestic investors, inclining to build fresh positions in stocks which promised good returns’.
Foreign investors too are waiting for some solution on the political front, because equities are at cheaper level compared to regional peers.
