Bulls regained control of the trading floor at the Pakistan Stock Exchange (PSX) on Tuesday, a day after it recorded a massive plunge in share prices, reported
As the business was set into motion, the PSX’s benchmark KSE-100 index soared by whopping 4,249.68 points or 2.61% to reach 162,693.29 points.
In a positive development, Finance Minister Mohammad Aurangzeb who is currently in the USA to attend the annual meeting of International Monetary Fund (IMF) and World Bank (WB) annual meetings expressed the hope that a staff-level agreement between the International Monetary Fund will be signed next week.
A total of 416 companies transacted shares so fare, of which 367 recorded gains, 35 sustained losses, and 14 remained unchanged.
Reports like State Bank of Pakistan’s (SBP) foreign exchange reserves rose by $20 million to $14.4 billion, and the rupee appreciated slightly to Rs281.17 against US dollar, also restored confidience of the buyers.
The National Accounts Committee revised FY25 GDP growth upward to 3.04% from 2.68%, while remittances grew 11% YoY to $3.2 billion in September, bringing the first-quarter total to $9.5 billion, up 8% YoY.
Earlier on Monday, the Pakistan Stock Exchange (PSX) came under sustained pressure as bearish sentiment dominated trading, leading to a sharp market selloff.
The benchmark KSE-100 Index tumbled to an intraday low of 157,678 points, reflecting a steep decline of 5,420 points.
Although some recovery emerged later in the session, the index eventually closed at 158,443 — down 4,654 points or 2.85 percent for the day.
Heavyweight stocks, including Bank Al Habib Limited (BAHL), Engro Corporation (ENGRO), Lucky Cement (LUCK), Oil and Gas Development Company (OGDC), and Mari Petroleum (MARI), were among the major laggards, collectively eroding 1,261 points from the benchmark index.
Despite the sharp downturn, trading activity remained notably strong, with total traded volume recorded at 1,361 million shares and traded value reaching Rs62 billion.
K-Electric Limited (KEL) led the volume chart with 197 million shares changing hands.
