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A day after witnessing the biggest single-day decline of over 3,500 points, the Pakistan Stock Exchange (PSX) rebounded with the benchmark KSE-100 Index gaining over 3,000 points during the opening hour of trading on Wednesday.
At 11:20 am, the benchmark index was hovering at 97,998.46, an increase of 3,424.30 points or 3.62%.
Massive buying was witnessed at the bourse with the index-heavy banking sector leading the rally alongside other sectors including automobile assemblers, oil and gas exploration companies, OMCs, and power generation.
Index-heavy stocks including HBL, NBP, MCB, OGDC, SSG, and HUBCO traded in the green territory.
The positive sentiment was a complete turnaround from Tuesday’s bloodbath, as the benchmark KSE-100 Index witnessed the biggest single-day decline, plunging by over 3,500 points and settling at 94,574, with investors viewing Islamabad’s situation as worsening after the Pakistan Army was called in to stop the protest from becoming more violent.
However, optimism returned following decisive overnight actions by law enforcement.
