The PSX reversed course with the KSE-100 gaining 3,000 points.
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A day after witnessing the biggest one-day decline of 3,500 points, the Pakistan Stock Exchange (PSX) saw the benchmark KSE-100 index gain over 3,000 points during the opening hour of trading on Wednesday.
At 11:20 am, the benchmark index was hovering at 97,998.46, up 3,424.30 points or 3.62 percent.
The market saw massive buying with the index heavy banking sector leading the rally along with automobile assemblers, oil and gas exploration companies, OMCs and power generation among others.
Index heavy stocks including HBL, NBP, MCB, OGDC, SSG, and HUBCO traded in the green territory.
The positive sentiment was a stark contrast to Tuesday’s bloodbath, as the benchmark KSE-100 index saw its biggest single-day decline, falling more than 3,500 points to 94,574, as investors called the Pakistan Army. After leaving I saw the situation in Islamabad getting worse. in order to prevent the protests from becoming more violent.
However, hope returned after decisive overnight operations by law enforcement agencies.
