PSX registers dramatic rebound, surges 5,433 points

Amid geopolitical tensions in the Middle East, the Pakistan Stock Exchange (PSX) registered a robust rebound on Thursday as the benchmark KSE-100 Index surged by over 5,430 points to close at 161,210, marking one of the strongest single-day gains in recent sessions.

The PSX had witnessed a historic sell-off, with a record plunge of over 16,000 points on March 2, followed by partial rebounds and dips in recent days.

On Thursday, PSX saw a sharp recovery, with the benchmark KSE-100 Index gaining 5,433 points to close at 161,211.

The recovery was driven by broad-based buying across major sectors, signalling an improvement in investor sentiment following recent volatility, said Ali Najib, Deputy Head of Trading at Arif Habib Ltd.

Strong institutional interest was observed in oil & gas exploration, oil marketing companies, power generation, cement, automobile, refinery, and banking sectors, with several index-heavy stocks trading firmly in positive territory.

Market participation remained robust, with total traded volume reaching 718.6 million shares and turnover amounting to Rs35 billion. KEL led the volume chart, with 115.6 million shares traded during the session.

As the market heads into the final trading session of the week, it will be interesting to observe whether this positive momentum sustains or if investors adopt a cautious stance following the recent recovery.