The Pakistan Stock Exchange (PSX) rebounded on Tuesday after Donald Trump said the war in the Middle East could end soon, easing concerns about prolonged disruptions to global oil supplies. The benchmark KSE-100 Index gained more than 9,000 points in early trading.
The market witnessed a strong buying spree soon after opening, with the index rising 9,303.75 points, or 6.35%, by 9:33am.
The development followed a turbulent session on Monday, when the benchmark index had already recorded a massive loss of more than 11,000 points amid growing regional uncertainty.
By the end of that session, the KSE-100 closed at 146,480.14, down 11,015.96 points, or 6.99%.
Selling pressure was widespread, hitting major sectors including automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing companies, power generation firms and refineries. Key index-heavy stocks such as MCB Bank, Meezan Bank, National Bank of Pakistan, Mari Petroleum, Oil and Gas Development Company, Pakistan Petroleum Limited, Pakistan State Oil, Sui Northern Gas Pipelines Limited, Sui Southern Gas Company and Hub Power Company all traded in negative territory.
