KARACHI: The Pakistan Stock Exchange (PSX) Tuesday bounced back with 196.14 points and reached 36321.51 points level in early trading.
On Monday, bearish activity was observed in local bourse with range bound activity, as index closed up by just 2.88 points to close at 36,125.37 points. Volatility prevailed in the market as the index traded between an intraday high of 120 points and intraday low of 32 points to finally close on a flattish note (0.01percent). Profit taking was witnessed in MUGHAL (down 1.63 percent), as investors came in to book their profits after the scrip closed on its upper circuit on Friday on the back of news that it has been contracted by FWO to supply steel bars for M9 project on eastern route of CPEC project.
In the E&P sector OGDC (1.46 percent), POL (1.67 percent) and PPL (0.75 percent) gained to close in the green zone as the crude oil prices increased to trade above $37/bbl level, dealers said. Volume decreased by 30 percent to 220 million shares while the value decreased by 15 percent to Rs 7.5 billion.
