The Pakistan Stock Exchange (PSX) rebounded strongly on Wednesday, with investors returning to the market a day after heavy losses, suggesting concerns over renewed tensions in the Strait of Hormuz had largely been priced in.
The benchmark KSE-100 Index remained firmly in positive territory throughout the morning session, although it surrendered part of its early gains as investors booked profits.
By 12:39 p.m., the index stood at 174,783.54 points, up 1,264.73 points, or 0.73%, from Tuesday’s close of 173,518.81.
During intraday trading, the benchmark climbed to a high of 176,701.38 before easing back, while its session low was 173,870.27.
The recovery came after bargain hunters moved in at the opening bell, pushing the market up by more than 2,100 points within minutes of trading following Tuesday’s sharp sell-off driven by escalating geopolitical tensions in the Middle East.