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Stocks recoup previous losses with 298pts gain in early trading

Stocks recoup previous losses with 298pts gain in early trading

KARACHI: The Pakistan Stock Exchange Wednesday opened recouping all the previous losses and gained 298 points in early trading to reach 49164 points level.

On Tuesday, the bearish sentiments prevailed at PSX due to withdrawal of subsidy on fertiliser sector pushing index to shed 173.62 points or (0.35%) to close at 48,865.79 points. ENGRO, FFC and EFERT contributed 128 points to the fall in index as stocks declined by 2.5%, 2.7% and 4.9% respectively. NML (up 1.43%) and NCL (1.38%) were major gainers of the aforementioned sector. Overall, volumes decreased by 16 percent to 413 million shares, while value declined by 3.3 percent to Rs20.1 billion.