PSX rebounds as investors return after sharp previous-session selloff
The Pakistan Stock Exchange recovered on Tuesday after the previous session’s steep decline, with the KSE-100 Index rising more than 780 points by early afternoon. Buying was seen in key sectors including autos, cement, banks, and oil and gas exploration.
KARACHI: The Pakistan Stock Exchange recovered on Tuesday, with the benchmark KSE-100 Index moving back into positive territory after the steep losses recorded a day earlier.
The index opened on a firm note and climbed to 171,201.59 points by 9:34am, up 601.39 points, or 0.35%. Early gains were supported by buying in automobile assemblers, cement, commercial banks, and oil and gas exploration companies.
Investors treated the earlier decline as a buying opportunity, leading to renewed accumulation in major sectors instead of an extension of Monday’s selloff. The rebound indicated that buying interest returned quickly and kept the market in the green through the morning session.
Later in the day, the KSE-100 Index rose further to 171,405.60 points at around 1:29pm, showing a gain of 805.40 points, or 0.46%, according to market statistics. The same data showed the index at 171,382.44 points, higher by 782.24 points, or 0.46%, compared with the previous close of 170,600.20 points.
During the session, the benchmark touched an intraday high of 171,527.65 points and a low of 170,248.46 points. Trading activity remained active, with volume reported at 113.08 million shares and traded value at Rs11.32 billion, while the market was still open at the time of filing.
The session followed a sharp downturn in the previous trading day, when bears had taken control and the KSE-100 Index had shed more than 3,000 points.
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