KARACHI: The Pakistan Stock Exchange Tuesday opened positive after long bearish spree as the benchmark 100-index added 27.83 points to reach 48916.37 points level in early trading.
On Monday, the bearish momentum prevailed at the PSX on first trading day as the market, after opening on a positive note, soon came under selling pressure due to which the index lost 322 points during the day to close at 48,888.54 points. Banking sector led the decline in the market, as index heavy weights HBL (down 2.26%), MCB (2.06%) and UBL (4.49%) lost value to close in the red zone. HBL, UBL and MCB contributed 210 points to the fall. FFBL (rose 1.25%) and EFERT (1.15%) were major gainers of the aforementioned sector. Overall, volumes decreased by 38.5 percent to 316 million shares, while value declined by 8.9 percent to Rs20.2 billion/$194 million.
