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Pakistan Stocks show positive trend in early trading

Pakistan Stocks show positive trend in early trading

KARACHI: Trading started with a positive note on the first day of the week at Pakistan Stock Exchange after it closed bearish on Friday at 39,049.08.

After midday, the KSE 100-Index surged to 39,386.36, showing a change of 0.8563%. Once the market soared to its high point of 39,504.49 and then came back to 39,386.36.

On Friday, after a brief open in the positive, the KSE-100 index dived nearly 310 points on concerns over Moody’s warnings regarding Pakistan’s debt repayment situation. Investors were concerned about the falling foreign exchange reserves, which led to the selling pressure. However, the market soon recovered and staged a modest recovery to finish just 41 points in the red. Slight volatility was witnessed in the latter half of the session as the index oscillated between red and green zones before finishing negative.

At the end of trading on Friday, the benchmark KSE 100-share Index recorded a decrease of 41.2 points or 0.11% to settle at 39,049.08.