The Pakistan Stock Exchange bounced back strongly on Tuesday, recovering much of the ground lost in the previous session as fresh buying lifted the benchmark KSE-100 Index by more than 2,500 points.
The index closed at 168,460.10, gaining 2,592.79 points, or 1.56 percent, after moving between an intraday low of 165,651.67 and a high of 168,626.18.
Trading remained volatile through the day. The KSE-100 initially moved higher before slipping towards the 165,000 level around midday. Buyers then returned with greater force in the afternoon, pushing the index back above 167,000 and then 168,000.
The recovery gathered pace towards the end of the session. The index briefly touched 168,626.18 before giving up some of its gains in the final minutes.
Market activity also remained strong, with total volume reaching 192.37 million shares.
Energy stocks were among the most active counters. Cnergyico PK led trading with 55.06 million shares and closed 5.90 percent higher at Rs12.93. Pakistan Refinery Limited followed with 28.18 million shares, rising 7.96 percent to Rs94.38.
WorldCall Telecom recorded 25.45 million shares, while K-Electric traded 24.12 million shares. Pakistan International Bulk Terminal also remained active, with 21.36 million shares changing hands.
Several stocks posted strong gains during the session. LSE Financial Services was the top gainer, rising 18.07 percent to Rs3.92. FPRM and SBL each gained about 10 percent, while DADX, ICCI and NONS also advanced by around 10 percent.
On the other side, selling pressure remained visible in a number of stocks. EFULR, ASTM, BUXL, KHTC and FIMM each fell 10 percent, while PIM dropped 10 percent. SSOM declined 9.97 percent.
The strong recovery came a day after heavy selling sent the market sharply lower. On Monday, the KSE-100 lost 2,288.17 points, or 1.36 percent, to close at 165,867.32 amid political and regional uncertainty and rising global oil prices.
Tuesday’s rebound came as international markets found some support. Asian equities moved higher after technology stocks pushed the Nasdaq to a record close, while softer oil prices helped ease some pressure on investors.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 percent, while Japan’s Nikkei gained 0.7 percent. European stock futures were also pointing higher.
US markets provided another positive signal. Nasdaq futures rose 0.2 percent and S&P 500 futures added 0.1 percent after the Nasdaq ended at a record high in the previous session.
Technology stocks remained in focus, with Nvidia climbing 2.1 percent to another record close. The move pushed the chipmaker’s market value to about $5.76 trillion.
Despite Tuesday’s recovery, the KSE-100 remains 3.21 percent lower so far this year. Over the past 12 months, however, the index is still up 1.38 percent.
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