The Pakistan Stock Exchange (PSX) recovered on Tuesday with the benchmark KSE-100 Index rising by nearly 1,900 points.
At close, the benchmark index settled at 180,301.70, a gain of 1,886.91 points or 1.06%.
Buying interest was concentrated in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration, oil marketing companies (OMCs), power generation, and refineries. Heavyweight stocks such as OGDC, MARI, POL, PPL, HUBCO, and UBL closed in positive territory, providing support to the market.
On Monday, however, the Pakistan Stock Exchange (PSX) came under renewed selling pressure as investor sentiment weakened amid fresh geopolitical uncertainty over the weekend. The resulting wave of profit-taking erased the previous session’s gains, with the benchmark KSE-100 Index falling 1,156.47 points, or 0.64%, to settle at 178,414.80 points.
Meanwhile, the government has formally initiated the creation of a Petroleum Price Stabilization Fund by notifying a new head of account, a move aimed at reducing the impact of volatile global oil prices on domestic fuel consumers and creating a mechanism to utilize future savings from discounted oil imports.
According to a notification issued by the Ministry of Finance, all proceeds received under the fund will be credited to the Public Account of the Federation under the major head “Special Deposit Fund.”
