The Pakistan Stock Exchange (PSX) witnessed bullish momentum on Tuesday, with the benchmark KSE-100 Index rising 622.95 points to close at 115,532.43.
The index touched an intraday high of 116,692.29 and a low of 115,560.90, reflecting steady investor interest throughout the session.
Trading volume remained robust, with 338.9 million shares exchanged, and the market’s total value reaching Rs27.29 billion.
Cnergyico Limited (CNERGY) led the volume chart with over 121 million shares traded, closing at Rs8.40 with a gain of Rs0.57. Bank Alfalah (BAFL) and K-Electric (KEL) followed, trading 32.6 million and 19 million shares, respectively.
Among major gainers were Lucky Cement (LUCK), which surged Rs98.09 to close at Rs1,585, and Mari Petroleum (MARI), up Rs33.09 at Rs691.50.
While most heavyweight stocks posted gains, some companies including Engro Fertilizers (EFERT) and Fauji Fertilizer Company (FFC) saw declines of Rs3.97 and Rs2.09, respectively.
On Monday, the KSE-100 had closed at 114,909.48 following a steep 3,882-point drop, triggered by global economic concerns after new tariffs were introduced by US President Donald Trump.
The KSE-100 index faced a bloodbath on Monday, with the Pakistan Stock Exchange (PSX) mirroring escalating global trade tensions and fears of a global recession.
As US President Donald Trump refused to back down from his tariff plans, retaliatory moves from China triggered fears of a broader trade war, causing markets to plunge around the world.
Asian equity markets took a nose-dive, European shares crashed to a 16-month-low, and oil prices sank as investors worried that the duties announced by Trump last week could lead to higher prices, weaker demand, and potentially trigger a global recession.
Goldman Sachs, alongside other major investment banks, has raised the odds of a US recession to 45% over the next 12 months.
JP Morgan economists estimated that the tariffs may push the US economy into a 0.3% contraction, down from their previous estimate of 1.3% growth of GDP.
Speaking on the matter, Trump commented, “I don’t want anything to go down. But sometimes you have to take medicine to fix something.”
World leaders reacted to the news with bewilderment, with China, the world’s No. 2 economy, referring to the tariffs as “economic bullying”.