Following a wave of heavy selling in the previous trading session, the Pakistan Stock Exchange (PSX) staged a notable rebound on Friday, with the benchmark KSE-100 Index climbing close to 1,000 points as investor confidence returned.
The index opened firmly in positive territory and surged to an early high of 174,148. It later slipped to an intraday low of 169,592.52 amid profit-taking by some investors.
Despite the pullback, buying interest gradually resurfaced, allowing the market to recover. By midday, the KSE-100 Index had settled at 173,169.71, up 999.42 points, or 0.58%.
The recovery followed a turbulent Thursday session, when broad-based selling across major sectors triggered a sharp downturn.
The KSE-100 Index ended that session at 172,170.29, plunging 6,682.81 points or 3.74%, wiping out the previous day’s strong gains and highlighting heightened market volatility.
Meanwhile, the Pakistani rupee posted a slight appreciation against the US dollar in the inter-bank market on Friday.
The local currency closed at 279.56, strengthening by Re0.01 compared to the greenback.
It is worth noting that the State Bank of Pakistan remained closed on Thursday (January 19) in observance of the first day of Ramadan.
