A rebound swept through the Pakistan Stock Exchange (PSX) on Tuesday as investors returned to buying after Iran and Israel announced a halt to attacks on each other, easing concerns that had rattled markets a day earlier.
The benchmark KSE-100 Index staged a strong recovery in early trade, climbing more than 2,000 points within minutes of the opening bell as improved geopolitical sentiment encouraged investors to pick up stocks following Monday’s steep losses.
At around 9:49am, the benchmark index had surged by 2,069.24 points, or 1.22 percent, to reach 171,022.94 points, with trading volumes standing at 23.45 million shares. By 9:55am, the market remained firmly in positive territory, hovering at 170,954.65 after gaining 2,000.95 points.
The momentum eased slightly later in the session, but the market continued to hold onto its gains. As of 12:04pm, the KSE-100 Index was trading at 170,661.92, up 1,708.22 points or 1.01 percent, while volumes had crossed 103.4 million shares.
The day’s trading range saw the index move between a low of 170,398.05 and a high of 171,022.94 points. Despite Tuesday’s rebound, the benchmark index remained down 1.95 percent on a year-to-date basis, although it was still nearly 40 percent higher compared to the same period last year.
Buying interest was visible across several major sectors, including automobile assemblers, cement, commercial banks, fertiliser companies, oil and gas exploration firms and oil marketing companies. Heavyweight stocks such as Mari Energies, Oil and Gas Development Company, Pakistan Petroleum Limited, Pakistan Oilfields, Hub Power, Pakistan State Oil, Meezan Bank and National Bank of Pakistan traded in the green, helping lift the broader market.
Among the most actively traded stocks, TPL Properties gained more than 10 percent, while TPL Corp, Pace Pakistan, TRG Pakistan, First Dawood Properties and OBOY Corporation also recorded notable advances. On the losing side, AGL NCPS, SML, Shahmurad Sugar Mills and several other counters came under pressure.
The recovery followed a difficult session on Monday, when renewed exchanges between Iran and Israel pushed the KSE-100 Index below the key 170,000-point mark for the first time since May 22, ending the day at 168,953.71 points.
Global markets also showed signs of relief on Tuesday. Asian equities moved higher and oil prices retreated from recent peaks after both Iran and Israel indicated they would pause hostilities for now. Japan’s Nikkei index rebounded after sharp losses in the previous session, while South Korea’s market posted strong gains. Chinese stocks also edged higher after stronger-than-expected trade data pointed to resilience in the country’s export sector despite ongoing trade challenges.
Analysts, however, cautioned that investor sentiment remained fragile, with tensions in the Middle East and disruptions to shipping routes through the Strait of Hormuz continuing to pose risks to global financial markets.
