Stocks bounced back on Wednesday to recover at least a part of the huge losses of 860 points that the index had sustained collectively in three consecutive previous trading sessions. AFP/File
KARACHI: Stocks bounced back on Wednesday to recover at least a part of the huge losses of 860 points that the index had sustained collectively in three consecutive previous trading sessions.
The stability in international oil prices showed signs of recovery in global markets which translated to improvement in the local market.
The KSE-100 index recovered 180.76 points or 0.42 per cent and closed above the 43,000 level at 43,087.70.
During the day, the index touched intra-day high and low of 309 and 54 points respectively. Individuals, banks and broker proprietary trading took fresh positions worth over $5 million, which went to tide over the offloading of shares by mutual funds in the sum of $4.11m which was possibly to meet redemptions by nervous unit holders.