KARACHI:
The Pakistan Stock Exchange (PSX) rebounded on Tuesday, with the benchmark KSE-100 index rising by 9,697 points, or 6.62%, by 1:44 pm after a sharp decline in the previous session.
Buying activity emerged across major index-heavy sectors from the opening bell, lifting benchmark indices and triggering a temporary trading halt following a sharp rise in key market indicators.
According to a PSX announcement, trading was halted after the KSE-30 index registered a 5% increase from the previous trading day’s close, triggering an automatic suspension under the exchange’s regulations.
The PSX added that all outstanding orders were automatically cancelled during the halt and that equity markets would reopen according to schedule.
Trading later resumed as scheduled, with the upward trend continuing through the session.
Read: Massive sell-off sends PSX into trading halt
The market opened for trading and recorded a high of 158,354.12 points, while the day’s low stood at 155,294.65 points.
The previous closing level of the index was 146,480.14 points.
Trading activity showed a volume of 189,386,276 shares, while the total value recorded in the market reached 16,877,920,340.
In the history of the Pakistan Stock Exchange, trading had previously been suspended for one hour on two occasions due to severe market declines. However, this was the first time trading was halted for an hour due to a major upward rally.
Analysts said Monday’s decline had been driven by a spike in global oil prices and rising geopolitical tensions, which prompted broad-based selling.
“Following yesterday’s sharp sell-off triggered by a spike in oil prices and escalating geopolitical tensions, the market opened with a strong rebound today (Tuesday) as the KSE-100 surged 9,728 points before trading was halted,” KTrade Securities equity trader Ahmed Sheraz told The Express Tribune.
He said sentiment improved after oil prices corrected overnight to below $90 per barrel, easing concerns over supply disruptions.
Additional support came from signals by US President Donald Trump indicating that the war with Iran was “pretty much” complete, along with the State Bank of Pakistan’s decision to keep the policy rate unchanged.
Positive cues from US and Asian markets also supported investor sentiment at the local bourse.
However, Sheraz noted that the situation remains uncertain as regional tensions persist, adding that oil price movements will remain an important factor influencing market direction in the coming days.
