Daily Times

The Pakistan Stock Exchange (PSX) made a strong recovery on Tuesday morning after its largest-ever intraday loss the previous day. The KSE-100 Index surged by over 1,400 points in early trading, signaling a sharp rebound. By 9:40 AM, the index had reached 116,355.79, a rise of 1,446.31 points, or 1.26%, from the previous close. This recovery came as investors regained confidence and looked for bargains following Monday’s market panic.

Several sectors saw significant buying activity, including automobiles, cement, chemicals, and banks. Investors also focused on oil and gas companies, along with refineries. Major stocks such as HUBCO, ARL, PSO, and OGDC led the gains. These stocks contributed greatly to the index’s rally. The market seemed to stabilize as traders took advantage of lower prices caused by Monday’s sharp selloff.

Monday’s market had been highly volatile, with the KSE-100 Index plummeting nearly 8,700 points, its worst-ever intraday decline. However, it managed to recover half of those losses by the close, ending at 114,909.48. The drop was largely attributed to weak global signals, concerns over a trade war, and sudden liquidity pressures. Despite the volatility, analysts see the rebound as a sign of technical correction, showing market stabilization.

Now, traders are keeping an eye on upcoming budget announcements and macroeconomic data. These developments will help determine the market’s direction in the near future. While the market remains cautious, investor sentiment appears cautiously optimistic, with many hoping for more stability in the coming days.