KSE-100 swings higher despite early volatility, touching key psychological level.
KARACHI: The Pakistan Stock Exchange (PSX) witnessed a strong bullish trend on Tuesday as the benchmark KSE-100 index surged by more than 2,000 points during intraday trading, recovering from the previous session’s losses.
The index gained up to 2,161 points, reaching 174,357 at around 11:54am, compared to the previous close of 172,196. Trading opened on a positive note, and the index climbed as high as 3,100 points earlier in the session before experiencing minor fluctuations.
Later during the day, buying momentum strengthened further, pushing the KSE-100 index back above the 175,000 level, where it touched 175,548 points.
The bullish sentiment in the market was supported by confirmation from the State Bank of Pakistan (SBP) that it had received $1 billion from Saudi Arabia as part of a $3 billion deposit agreement. This development helped restore investor confidence.
The recovery comes a day after the market had fallen by over 1,700 points on Monday amid concerns over rising geopolitical tensions in the Middle East, which had triggered selling pressure.
Overall, renewed investor interest and positive financial inflows helped drive a strong rebound in the market during Tuesday’s trading session.
