PSX Rebounds Strongly as KSE-100 Regains Over 2,800 Points
Trading at the Pakistan Stock Exchange (PSX) began Wednesday on a positive note, with the market witnessing a strong rebound during early trading as the benchmark KSE-100 Index surged by 2,826 points to reach 176,238 points . The rally came a day after the stock market suffered a bloodbath, with the KSE-100 Index plunging 6,408 points, or 3.56 percent, to close at 173,518 points amid escalating US-Iran tensions and soaring oil prices .
By mid-day, the index remained firmly in positive territory, with Mettis Global reporting the KSE-100 at 176,202.88, up 2,684.07 points or 1.55 percent by 9:45am . Of the 100 index companies, 89 advanced while only six declined . Index-heavy stocks including UBL, MEBL, ENGROH, FFC, and HUBC provided the biggest support to the benchmark .
Buying interest was observed across key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, power generation and refinery . Top gainers during the session included YOUW (+4.44%), SCBPL (+3.82%), FATIMA (+3.60%), KTML (+3.37%), and CHCC (+3.31%) .
The rebound follows a sharp correction triggered by geopolitical developments after President Donald Trump reimposed a naval blockade on Iranian ports and imposed a 20 percent levy on cargo passing through the Strait of Hormuz . However, the market found relief as Trump later backtracked on the announcement, with oil prices taking a breather amid easing tensions . International markets also provided support after a surprise slowdown in US inflation scaled back expectations for interest rate hikes.