The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) rebounded on Wednesday, recording the highest single-day increase of over 4,000 points.
The benchmark index gained 4,695.09 points, or 4.96 percent, to settle at 99,269.25 points at the closing of the stock market, as against the previous day’s closing of 94,574.16 points.
A total of 1.05 billion shares were traded during the day compared with the turnover of 1.11 billion during the previous trading day at the PSX.
The price of shares stood at Rs39.556 billion as against Rs43.291 billion on the last trading day at the stock market.
As many as 453 scrips were active in the Pakistan Stock Exchange, out of which 356 recorded gains and 52 sustained losses, while the share price of 45 companies remained unchanged.
Analysts at Topline Securities attributed the historic rally at the PSX to an easing political environment after the PTI decided to end its protest in Islamabad a day earlier.
“This shift marked a complete reversal from Tuesday’s turmoil, where the benchmark KSE-100 Index experienced its biggest single-day drop, plunging by 3,800 points. In an extraordinary recovery, the market rebounded with a gain of 4,975 points, fully offsetting and surpassing the previous session’s losses,” they said.
