KARACHI: The Pakistan Stocks Exchange (PSX) Wednesday made a huge recovery of 385 points in early trading to reach 48908 points level.
On Tuesday, the stocks closed in red on second consecutive day on the back of forthcoming panama case result coming week. The shares index traded between an intraday high of 5 points and intraday low of 190 points, finally closing at 48,523 level, down 157 point, or (0.32%).
Downside contribution of 99 points came from LUCK (slip 1%), SEARL (2.6%), PPL (1.4%), HBL (0.5%) & OGDC (0.9%), market participants said. PPL (decline 1.36%), POL (1.33%) and OGDC (0.85%) in the E&P sector remained in the red as oil prices struggled near low levels on rising US shale production. Volumes declined 8 percent d/d to 218 million shares, while traded value shed 2 percent to Rs10.2 billion.
