Summary PSX was trading above 40,000 level after last week's onslaught.
KARACHI (Dunya News) - Pakistan Stock Exchange on first session of new week took a breather after heavy onslaught of last five sessions as some fresh investment poured in from domestic financial institutions, mutual funds and some overseas investors.
The Pakistan Stock Exchange (PSX) 100-index commenced on a cautious note but slowly showed some recovery under the lead of K-Electric, some banks and gas companies’ shares.
The 100-index made a high of 40,090 points and was trading above 40,000 level after last week s onslaught.
The index suffered a loss of 1419 points during the preceding week, while since its high of 41545 points attained on October 20, registered a decline of more than 1600 points.
K-Electric shares led the volume on the development that Shanghai Electric, a state run company has finalized plan to buy shares of K-Electric for $1.7 billion.
The Abraaj Group has reached an agreement to sell K-Electric stake to China’s Shanghai Electric. It would be the largest private sector deal to be finalized soon.
"The market showed recovery on the back of Supreme Court s decision permitting Pakistan Threek Insaf to hold their protest at ground in the federal capital", an analyst said. "With Sunday witnessed volley of action from the police force and protestors of PTI, the steam has been out and investors generally believed that things would remain in hands of the government and November 2 protest would pass calmly.”
