Abb Takk News

Finally Losing Streak Comes to an End as PSX Gains 797 Points

KARACHI: The eight-day losing streak finally came to an end as stocks recovered from a five-year low on Monday and gained nearly 800 points.

After losing around 10% in the past eight sessions, the Pakistan stock market bounced back on renewed buying interest at historically low share prices.

At close, the benchmark KSE 100-share Index recorded an increase of 797.79 points, or 2.77%, to settle at 29,562.42 points.

Overall, trading volumes increased to 102.5 million shares compared with Friday’s tally of 65.2 million. The value of shares traded during the day was Rs3.9 billion.

Shares of 354 companies were traded. At the end of the day, 283 stocks closed higher, 51 declined and 20 remained unchanged.