PSX rebounds with 11,100 points on positive market sentiment
Business
PSX rebounded, KSE-100 surged 7.58% to 157,580.74 points as Trump hinted at Middle East peace and SBP held rates; oil prices fell, trading volume and market activity rose
KARACHI (Dunya News) – Pakistan Stock Exchange (PSX) rebounded with significant gains on Tuesday as US President Donald Trump predicted the war in the Middle East could end soon and the State Bank of Pakistan kept the policy rate unchanged at 10.5 percent.
During intraday trading, the KSE-100 index gained 11,100.60 points to climb to 157,580.74 points, reflecting a positive change of 7.58 percent compared to previous close of 146,480.14 points.
Meanwhile, oil prices fell on Tuesday after hitting an over three-year high in the prior session following the Trump’s statement as it has eased concerns about prolonged disruptions to global oil supplies.
Brent futures fell $4.17, or 4.2%, to $94.79 a barrel at 0345 GMT, while U.S. West Texas Intermediate (WTI) crude was down $3.81, or 4%, to $90.96 a barrel. Both the contracts fell as much as 11% earlier before paring some losses.
A day earlier, the benchmark index witnessed bearish trend on Monday, losing 11,015.95 points, a negative change of 6.99 percent, closing at 146,480.15 points against 157,496.10 points on the last trading day.
A total of 621,653,341 shares were traded during the day as compared to 363,145,903 shares the previous trading day, whereas the price of shares stood at Rs 37.116 billion against Rs 23.108 billion on the last trading day.
As many as 480 companies transacted their shares in the stock market, 33 of them recorded gains and 386 sustained losses, whereas the share price of 61 companies remained unchanged.
