The Pakistan Stock Exchange (PSX) posted a net rally Tuesday, with the KSE-100 reference index evolving from 5,470.16 points, or 4.71 %% at 121,637.63 points during intra-day trading, reflecting the optimism of increased investors after the announcement by the American president Donald Trump between Iran and Israel.
The current index won 6,479.11 points compared to the previous fence of 116,167.47, marking one of the biggest gains in the recent trading.
Source: PSX
The market has reached an intraday summit of 122,725.21 and a minimum of 120,369.53.
The volume of negotiation amounted to 236.9 million shares, with a total value of 20.6 billion rupees, indicating a strong purchase interest between the sectors.
The upward movement reflects the renewed confidence of investors in the context of geopolitical tensions and hopes of regional stability.
Waqas Ghani Kukaswadia, responsible for the research for JS Global, noted that a generalized purchase activity was observed in all sectors, causing a strong rally. Trading was interrupted for an hour due to the lively upward movement. The market increased by 5.65%, he added.
Read: Stocks collapse in the sale of panic
Earlier Monday, PSX saw an steep sale, motivated by the climbing of geopolitical tensions after the American attack on Iran.
The KSE-100 reference index plunged 3,856 points (3.21%) to end at 116,167, after reaching an intra-day hollow of 115,887. This marks one of the strongest losses of a day in recent months.
According to Ahsan Mehanti of ARIF Habib Corp, the actions fell in the middle of a sale in global actions due to climbing in the tensions of the Middle East.
The disturbances of the offer taken by the reprisals expected to the American attack on Iran contributed to a low export perspective and to high inflation concerns, which played a major role in the sale of activity at the PSX, he said.
The feeling of investors was attenuated by the increase in geopolitical tensions, in particular the conflict of intensification between Israel and Iran, which led to increased uncertainty and an aversion of generalized risk. The nervousness has sparked a large sale of panic, observed the summit in a market review.
Topline added that the main indexes, including Engro Holdings, Pakistan Petroleum, Lucky Cement, OGDC and Mari Petroleum, were among the best latecomers, causing the index down 1,054 points.
In his comment, Arif Habib Limited (AHL) said that the week had started with high sales after climbing in the Middle East during the weekend.
Only five shares have increased while 93 fell, with Engro Holdings (-5.02%), Pakistan Petroleum (-6.3%) and lucky cement (-4.02%) being the largest streaks.
The global analyst of JS MUBASHIR Anis Naviwala pointed out that the PSX had undergone heavy losses in the middle of a strong sale, opening with a lower space of 2,000 points in the middle of the sale of panic.
The index failed to recover throughout the session, touching the lowest of 115,887 and finally closed with a massive loss of 3,856 points at 116,167.
The total volume negotiated amounted to 595 million shares, with an activity greater than Worldcall Telecom, Su Southern Gas Company, Pervez Ahmed Consultancy, K-Electric and Kohinoor Spinning Mills, he noted.
The sharp decline reflected increased fears caused by uncertainty and external pressures. “We advise investors to remain cautious, focusing on risk management and selective accumulation,” added the analyst.
The overall negotiation volumes increased to 595 million shares, compared to the count of Friday of 421.6 million. The value of the negotiated shares was 23.5 billion rupees. The actions of 468 companies have been negotiated.
Among these, 56 actions closed above, 386 fell and 26 remained unchanged.
WorldCall Telecom was the volume leader with trade in 53.3 million shares, down RS0.10 to end at Rs1,35.
It was followed by Suit Southern Gas Company with 36 million shares, losing RS4.2 to end at Rs38.8 and Pervez Ahmed Consultancy with 24 million shares, lowering RS0,12 to end at RS2.72.
Foreign investors bought actions worth 162 million rupees, the National Clearing Company reported.
