KSE-100: Stocks stage sharp recovery; index up 487 points
May 5, 2021
PSX-continues-bullish-trend-gains-827-points-e1576187826235Stocks at Pakistan Stock Exchange (PSX) staged sharp recovery on Tuesday, as selling pressure finally ended, owing to positive economic indicators.
On Tuesday, the benchmark KSE-100 opened on a positive note and touched intra-day low at 44,620.41 level after gaining over 540 points. However, the index clocked at 44,563.59 level by the closing bell after posting a 487 points gain.
During the session, investor sentiments were primarily buoyed by a 57%YoY improvement in local oil sales to 1.67 MTs in the month of April which shows an uptick in overall economic activity despite virus spread.