PSX bounces back with 3,200-point recovery after major drop

KSE-100 index rises by 3.05%

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The Pakistan Stock Exchange (PSX) experienced a significant surge on Friday, with the index climbing by 3.05%, current index at 109,513.14.

The day's trading saw a high of 109,846.64 and a low of 105,601.03, reflecting a strong positive movement throughout the session.

The benchmark KSE-100 index closed trading session at 109,513.14, showing positive increase of 3,238.17 points.

With a total trading volume of 321,427,756 shares, the market witnessed robust activity, indicating investor confidence.

The total value of shares traded reached approximately 29.56 billion, reflecting solid market participation.

Earlier, the Pakistan Stock Exchange (PSX) faced a massive downturn on Thursday, with the KSE-100 index dropping 4,795.32 points (4.32%), marking its largest single-day loss in history.

This followed a record drop of 3,790 points on Wednesday. The sell-off was fueled by a mix of domestic factors, including the government's decision to restrict non-filers from investing in mutual funds, concerns over a potential end to the monetary easing cycle, and political uncertainty.

Sectors like chemicals, commercial banks, power generation, and refineries saw the most significant declines.

The market was also impacted by weak global crude oil prices, institutional selling, and profit-taking by investors. Leading stocks such as Mari Petroleum, Hub Power, and United Bank contributed heavily to the drop.

Despite the sharp decline, some analysts anticipate short-term rallies due to the market's correction, which may present buying opportunities.

Trading volumes increased to 1.17 billion shares, with WorldCall Telecom, K-Electric, and Cnergyico PK leading the volume. Foreign investors also sold shares worth Rs1.40 billion.