Stocks stage partial recovery
KARACHI: Stocks bounced back on Wednesday to cover some of the losses after a massive plunge of over three per cent in the previous session. The KSE-100 index recovered 287.51 points (0.65pc) to close at 44,186.
The traded volume was down by 2pc over the earlier day to 187 million shares whereas the traded value was up 13pc to Rs10.3 billion, signifying that big market capitalisation stocks attracted buyers.
The volume leaders remained the second-tier stocks, which included ANL, ASL and TRG, contributing 38m shares to the total as ‘individuals’ (mainly retail investors) changed places with the foreign investors.
In contrast to Tuesday, individuals took faith and bought stocks worth $3.8m. Foreigners, who had seized the opportunity to buy stocks at attractive prices in the bloodbath a day earlier, came in to book profit with net sale of $3.8m.