KARACHI: The Pakistan Stock Exchange (PSX) rebounded sharply on Wednesday, ending a two-day losing streak as renewed buying interest lifted the benchmark KSE-100 Index back above the 175,000-point level.
Trading opened on a strong positive note during the third session of the business week, with the benchmark index surging by more than 3,000 points to an intraday high of 176,701 points.
Although some of the early gains were trimmed during the session due to profit-taking, the market maintained its positive momentum throughout the day.
At the close of trading, the KSE-100 Index settled at 175,285 points, recovering significantly from the previous session’s steep decline.
The rally came a day after the benchmark index had fallen by 6,408 points, ending Tuesday’s session at 173,518 points amid widespread selling pressure.
Market participants attributed Wednesday’s rebound to renewed investor confidence and bargain hunting following the sharp correction in the previous two trading sessions.
Investors are expected to remain focused on economic indicators, corporate earnings and policy developments that could influence market sentiment in the coming sessions.
