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Home / Markets / KSE on recourse to recovery after meltdown; gains 106pts, 0.35% to rise to 30982pts

KSE on recourse to recovery after meltdown; gains 106pts, 0.35% to rise to 30982pts

KARACHI: Stocks, day after sinking deeper and deeper due to terrorists attack on Army Public School in Peshawar, went on recourse to recovery and went up 106.68 percent or 0.35 percent to climb up to 30982.96 till midday on Wednesday amid national mourning for martyred schoolchildren.

The Karachi Stock exchange crashed down on Tuesday with the KSE-100 index plummet 813.82 points or 2.57 percent to close at 30,876.28 points.

Most investors were taken aback by the sudden plunge in stock prices as the entire country fell into deep grief over the worst terrorists attack on Army Public School in Peshawar in which 132 children were martyred.

However, on Wednesday the market appeared confident and started the day on a positive day, although it was national mourning.

Experts at the market believe that the terrorist attack on a Peshawar school had dampened investor sentiments. They also attributed the Tuesday crash to disqualification of five stocks by a major Islamic bank from the Shariah Compliant list.

Analysts also commented that the market followed the declining trend of the regional markets as foreign selling trend continued spreading panic with the locals.