KARACHI: The Pakistan Stock Exchange (PSX) rebounded sharply on Thursday, a day after a bearish session triggered by escalating US-China trade tensions. Investor sentiment improved significantly following a 90-day reprieve on US President Donald Trump's proposed tariffs, which had caused global market jitters.
The benchmark KSE-100 index surged over 3,000 points during early trading hours, reaching 117,484 points with a gain of 3,300 points. This strong upward momentum was driven by positive cues from international markets and heavy buying across several key sectors.
Sectors that led the rally included automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing companies (OMCs), power generation, and refineries. Major index-heavy stocks such as Attock Refinery Limited (ARL), Hub Power Company (HUBCO), Pakistan State Oil (PSO), Mari Petroleum (MARI), Oil and Gas Development Company (OGDC), Pakistan Petroleum Limited (PPL), and Pakistan Oilfields Limited (POL) traded in the green, contributing significantly to the index’s rise.
“Following the international market trend, PSX opened up 3,000 points—close to a 2.5% increase,” noted Mohammed Sohail, CEO of Topline Securities.
The market’s sharp recovery followed Wednesday’s steep decline, when the KSE-100 index shed 1,379.28 points to close at 114,153.15 due to heavy selling pressure amid fears of a prolonged US-China trade war. The swift turnaround reflects investor relief and renewed optimism fueled by the temporary easing of global trade tensions.
