Pakistan Stock Exchange (PSX) released a sharp demonstration on Tuesday with the Benchmark KSE-100 index, which rose 5470.16 points, or 4.71 %% to 121,637.63 points while trading in the Intra Day, reflecting increased investor optimism after US President Donald Trump’s advertising of the ceasefire between Iran and IRAN.
The current index got 6,479.11 points over the previous end of 116,167.47, marking one of the greatest single-day winnings in recent trade.
Source: PSX
The market reached an intraday high at 122,725.21 and a low low of 120,369.53.
Trade volume amounted to 236.9 million shares with a total value of RS20.6 billion, indicating a strong buying interest across sectors.
The upward movement reflects renewed investor security in the midst of facilitating geopolitical tensions and hope of regional stability.
Waqas Ghani Kukaswadia, head of research at JS Global noted that witnessed a witnessed purchase activity across all sectors and ran a strong rally. Trade was stopped for one hour due to the sharp upward movement. The market has increased by 5.65%, he added.
Read: Stocks fall in panic sales
Earlier on Monday, PSX saw a steep sale, driven by escalating geopolitical tensions following the US attack on Iran.
Benchmark KSE-100 index fell by 3,856 points (3.21%) to close at 116,167, after hit an intra-day low at 115,887. This marks one of the sharpest losses in a day of recent months.
According to Ahsan Mhanti of ARIF HABIB CORP, the shares fell in the midst of a sale in global shares due to the escalation in the Middle East tension.
Disorders of supply driven by expected retaliation to the US attack on Iran contributed to a slight export view and high inflation concerns that played an important role in selling activity on PSX, he said.
Investor mood was muted by rising geopolitical tensions, especially the intensifying conflict between Israel and Iran, which led to increased uncertainty and widespread risk aversion. The nervousness triggered broad-based panic sales, observed topline in a market review.
Topline added that larger index -heavy stocks including the Engro Holdings, Pakistan Petroleum, Lucky Cement, OgDC and Mari Petroleum were among the top laggards and pulled the index down with 1,054 points.
In his comment, Arif Habib Limited (AHL) said the week started with strong sales after the escalation in the Middle East this weekend.
Only five shares rose, while 93 fell, with Engro Holdings (-5.02%), Pakistan Petroleum (-6.3%) and Lucky Cement (-4.02%) were the biggest features.
JS Global Analyst Mubashir Anis Naviwala noted that PSX suffered large losses in the middle of a sharp sale that opened with a steep 2,000-point gap in the middle of panic sales.
The index failed to recover throughout the session, touched the low of 115,887 and eventually closed a massive loss of 3,856 points of 116,167.
The total traded volume accounted for 595 million shares with top activity in Worldcall Telecom, Sui Southern Gas Company, Perez Ahmed Consultancy, K-ELECTRIC and KOHINOOR SPINNING MILLS, he noted.
The sharp decline reflected increased fear driven by uncertainty and external pressure. “We advise investors to remain cautious with a focus on risk management and selective accumulation,” the analyst added.
Total trading volumes rose to 595 million shares compared to Friday’s figures of 421.6 million. The value of traded shares was RS23.5 billion. Shares of 468 companies were traded.
Of these, 56 shares closed higher, 386 fell and 26 remained unchanged.
Worldcall Telecom was the volume leader with trading in 53.3 million shares, falling RS0.10 to close on RS1.35.
It was followed by Sui Southern Gas Company with 36 million shares losing RS4.2 to close on RS38.8 and Perez Ahmed Consultancy with 24 million shares, closing RS0.12 on RS2.72.
Foreign investors bought shares worth RS162 million, National Clearing Company reported.
