PSX rebounds 2,593 points on IMF optimism
KARACHI: After a sluggish overnight start stemming from regional and political uncertainty, the Pakistan Stock Exchange (PSX) on Tuesday saw strong buying interest at attractive valuations, helping the benchmark KSE-100 index recover from recent lows to above the 168,000 level, apparently supported by expectations of a positive conclusion to the ongoing review talks with the visiting…
KARACHI - The Pakistan Stock Exchange (PSX) experienced a significant rebound of 2,593 points, or 1.56%, after settling into a sluggish start due to regional and political uncertainty, according to the benchmark KSE-100 index. The index closed at 168,460, marking a notable climb from recent lows, as optimism about a positive outcome from ongoing talks with the International Monetary Fund (IMF) fueled buying interest.
Major sectors, including banks, oil and gas exploration, cement, automobiles, OMCs, refineries, and power, all contributed to the recovery. Investors appeared to capitalize on the previous session's sharp correction, while easing concerns about oil prices provided additional relief. Brent crude oil prices settled around $98.32 per barrel, down approximately 2% for the day.
Analysts anticipate sustained market momentum if oil prices remain stable and Middle East supply concerns ease, although geopolitical uncertainty and volatility are expected to keep some investors cautious.
Written by urgent.news from Dawn Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
