ISLAMABAD: The Pakistan Stock Exchange (PSX) bounced back on Tuesday with the benchmark KSE-100 settling with a gain of over 600 points.
It is pertinent to mention that the stock market lost nearly 3,900 points during the previous session.
Positive momentum was seen throughout the day, taking the KSE-100 Index to an intra-day high of 116,692.29. At close, the benchmark index settled at 115,532.43, an increase of 622.95 points, a positive change of 0.54%.
Buying was observed in key sectors including automobile assemblers, cement, chemical, commercial banks, oil and gas exploration companies, OMCs, and refinery. Index-heavy stocks including ARL, HUBCO, PSO, SNGPL, MARI, OGDC, PPL, MEBL, and NBP traded in the green.
A total of 530,694,779 shares were traded during the day as compared to 710,788,421 shares on the previous trading day, whereas the price of shares stood at Rs 33.676 billion against Rs 43.023 billion on the last trading day.
As many as 453 companies transacted their shares in the stock market, 273 of them recorded gains and 126 sustained losses, whereas the share price of 54 companies remained unchanged.
On Monday, the KSE-100 Index experienced a historic intraday plunge of nearly 8,700 points, marking the largest point decline ever. However, it managed to recover over 50% of its losses, closing at 114,909.48, still down by 3,882.18 points, or 3.27%.
Globally, Asian stocks rebounded from 1-1/2-year lows, while US stock futures indicated a positive start on Tuesday. Markets took a breather following recent heavy selling, fueled by hopes that Washington might consider negotiating some of its aggressive tariffs.
US Treasury yields continued to rise from six-month lows, while gold hovered near a 2-1/2-week low. Crude oil also bounced back from a nearly four-year low as traders shifted their focus from safe-haven assets to riskier investments.
In Japan, the Nikkei saw a strong 5.6% rebound, outperforming other regional markets. Meanwhile, US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer were appointed to lead trade negotiations with Tokyo.
