The Pakistan Stock Exchange (PSX) on Tuesday rebounded with the benchmark KSE-100 Index gaining nearly 1,000 points.
At close, the benchmark index settled at 173,155.79, an increase of 959.09 points or 0.56%.
Buying activity was seen across major sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing companies (OMCs), power generation, and refineries.
On Monday, the Pakistan Stock Exchange (PSX) had closed the week’s first session on a negative note, as investor sentiment remained cautious amid rising geopolitical tensions. The benchmark KSE-100 Index dropped sharply by 1,742 points to settle at 172,197.
In a positive development, the State Bank of Pakistan (SBP) confirmed on Tuesday that it had received $1 billion from the Ministry of Finance of the Kingdom of Saudi Arabia, providing some support to the country’s external position.
Meanwhile, global oil prices declined by more than $1 on Tuesday, reversing gains from the previous session. The drop came amid expectations that upcoming peace talks between the United States and Iran could result in increased oil supply from the Middle East.
Brent crude fell by $1.04, or 1.1%, to $94.44 per barrel, while US West Texas Intermediate (WTI) crude for May delivery dropped $1.66, or 1.9%, to $87.95.
