Benchmark index closes above 157,000 after sharp recovery
Buying returns a day after record 16,000-point market plunge
KARACHI: The Pakistan Stock Exchange (PSX) staged a strong recovery on Tuesday as the benchmark KSE-100 Index surged more than 5,100 points, a day after suffering the largest single-session decline in the market’s history.
The KSE-100 Index settled at 157,132.09 points, up 5,159 points or 3.39 per cent, as investors returned to the market following heavy selling pressure in the previous session.
Trading remained volatile during the day, with the index initially falling to an intraday low of 151,258 points before aggressive buying lifted the market. The index later climbed to an intraday high of 158,217 points before closing slightly lower.
The recovery comes after the PSX recorded a historic fall on Monday when the benchmark index plunged 16,089 points, or 9.57pc, amid heightened geopolitical tensions and global risk aversion.
Market activity improved toward the close of the session as investors engaged in bargain hunting after the sharp correction.
However, trading volumes declined, with 770.7 million shares changing hands, compared with over 809 million shares in the previous session. The total value of shares traded also dropped to Rs44.36 billion.
Among actively traded stocks, K-Electric, WorldCall Telecom and Pak Elektron led the volume charts.
Analysts said the sharp rebound reflected investor confidence returning after the market’s steep correction, although uncertainty linked to geopolitical developments and global energy prices continues to influence sentiment.
Globally, markets remained under pressure amid concerns about conflict in the Middle East and rising oil prices, factors that had triggered risk aversion across financial markets. The PSX had earlier experienced a dramatic sell-off driven by geopolitical tensions and investor panic, highlighting the market’s sensitivity to external developments.
