PSX finds its feet after historic bloodbath amid global tariff war
Business
KSE-100 index gained 1,500 points during early trading on Tuesday and closed at 115,532 points
KARACHI (Dunya News) – A day after historic intra-day plunge of 8,688 points triggered by imposition of tariffs by the United States amid fears of global recession, the Pakistan Stock Exchange (PSX) started to find its feet again as it gained more than 1,600 points on Tuesday.
The benchmark KSE-100 index hovered at 116,692 points as bulls helped rebound the market.
Across-the-board buying was observed in key sectors, including automobile assemblers, cement, chemical, commercial banks, oil and gas exploration companies, OMCs and refinery.
The trading closed at 115,532 with a gain of 622 points against Monday's figure.
Read more: PSX recovers slightly after losing over 8,000 points in a day amid global 'carnage'
Similarly, index-heavy stocks including HUBCO, ARL, PSO, SNGPL, MARI, OGDC, PPL, HBL, MCB and NBP also traded in the green as bulls rallied in the PSX.
The PSX faced one of the toughest days in its history as the key index lost more than 8,000 points on Monday amid bloodbath in global markets.
Trading was suspended when the KSE-100 index lost more than 6,000 point around midday. At 3pm, the index was at 114,652.39 after recovering 4,000 points.
The trend coincides with global markets crash amid ongoing tariff war. This was said to be the worst day in the history of PSX, which saw the all-time worst slump in a day.
The KSE-100 index lost 8,235.88 or -6.93% to 110,555.78 - one of the steepest single-day drops - when trading was stopped.
Later, it somewhat recovered and closed at 114,909 points.
