PSX surges 2,000 points as investor confidence returns
“The Pakistan Stock Exchange continued its rebound, with the KSE-100 jumping more than 2,000 points.”
Key points
- The Pakistan Stock Exchange continued its rebound, with the KSE-100 jumping more than 2,000 points.
- Investors responded positively to easing oil prices, stable interest rates and expectations of policy support.
Pakistan's stock market extended its recovery on Wednesday, with the benchmark KSE-100 Index climbing above 158,000 points after adding more than 2,000 points in intraday trade. The rally followed a strong previous session and reflected improving sentiment among investors.
Market participants linked the gains to a combination of easing global oil prices, firmer remittance data and optimism that government efforts to manage the economic fallout from regional tensions may support stability. Analysts also said the State Bank's decision to keep the policy rate unchanged helped reassure investors and encouraged buying in oversold shares.
Brokerage executives told Geo.tv that valuations had become attractive after a sharp correction triggered by uncertainty surrounding the regional conflict. They said lower crude prices and expectations of supportive fiscal steps helped fuel broad-based interest across the market.
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