PSX rebounds with nearly 1,000-point surge

After starting the trading week on a bearish note, the Pakistan Stock Exchange (PSX) rebounded significantly on Tuesday. The PSX surged 964 points, a 1.21% increase, lifting the index from the previous closing of 78,539 points to 79,503 points.

Yesterday, the KSE 100 Index marked a sharp decline of 1,578 points or 2.01% to reach 78,539 points, three days after it reached an all-time high of 81,800 points during intraday trade.

Read PSX plummets on heightened political noise

The market opened with a decline of 391 points yesterday, bringing the index down to 79,726 points. As the day progressed, the PSX saw a further drop of 517 points, causing the KSE 100 Index to fall further to the 79,600 points level.

On Friday, the stock market experienced a severe downturn and dropped by 1,721 points to reach 80,117 points but it recovered shortly by Sunday, where bulls staged a comeback and pushed the KSE-100 index to an all-time high above 80,000 points.