KSE-100 Shows Recovery, Nears 60,000 Mark with 1.2% Gain

Value investors returned to the Pakistan Stock Exchange (PSX) on Wednesday, driving the benchmark KSE-100 index up by nearly 1.2% in intra-day trading.

At 11:40 am, the index reached 59,889.29, marking a 1.2% increase with an intra-day high of 60,029.58. The positive momentum followed a significant decrease of 4.11% or 2,534 points on Tuesday, the highest day-to-day fall in KSE-100 history.

The market saw across-the-board buying, particularly in sectors such as automobile assemblers, chemicals, commercial banks, fertilizers, oil and gas marketing, exploration companies, property, and refineries.

Analysts anticipate a market recovery, citing attractive stock valuations and stable economic fundamentals.

However, concerns about foreign exchange inflows, attracting investments in state-owned companies, and resolving power sector issues contribute to ongoing market volatility.