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Bulls in PSX as 100-index gains 317 points
A sign of the Pakistan Stock Exchange is seen on its building in Karachi, Pakistan January 11, 2016. REUTERS/Akhtar Soomro/File Photo

Bulls in PSX as 100-index gains 317 points

KARACHI: Finally respite for the investors of the Pakistan Stock Exchange (PSX) as the 100-index gained 317 points on Tuesday.

The bulls took over the market after continued bearish trend, the index gained 317 points in the first half of the trading.

The 100-index presently trading at 39,614 points. The index  had closed at the level of 39,297 points on Monday (yesterday).

It may be noted that the KSE-100 index had lost 847 points on close of the first trading day of the week.

The stock market (PSX) in the previous week followed similar trend and lost massive 1,487 points or 3.6pc, representing the highest weekly decline in recent months during which the market regained much stability, and dropped to 40,143.63 at close on Friday.

According to reports, a staggering sum of Rs276 billion was wiped off the market capitalisation at the Pakistan Stock Exchange (PSX) in five-day trading of the last week. Foreign investors were net sellers in the equity market, offloading $4.1 million worth of shares.