KARACHI:

The Pakistan Stock Exchange (PSX) staged a strong recovery on Tuesday as the trading session reflected a classic battle between panic and confidence, with the market demonstrating remarkable resilience after Monday’s sharp selloff.

The benchmark KSE-100 Index opened on a bullish note and climbed to 171,201.59 points by 9:34 am, gaining 601.39 points or 0.35%.

Positive sentiment was driven by healthy buying activity across key sectors, including automobile assemblers, cement, commercial banks, and oil & gas exploration companies.

Rather than extending losses, investors viewed the dip as a buying opportunity, triggering fresh accumulation in key sectors.

The swift recovery and sustained gains throughout the session underscored the market’s underlying strength and confidence, suggesting that bearish sentiment failed to dominate, as buyers regained control and pushed the benchmark index higher.

This rebound highlighted the market’s ability to absorb selling pressure and reaffirmed investors’ conviction in fundamentally strong stocks.

Buying momentum remained strong throughout the morning session, keeping the index firmly in positive territory with trading underway till filing of this report.

Read: Bears take control at PSX as KSE-100 index loses over 3,000 points

According to market data, the Index later advanced to 171,405.60 points, 805.40 points or 0.46% at around 1.29pm.

According to market statistics, the benchmark KSE-100 Index was trading at 171,382.44 points, up 782.24 points (0.46%) from the previous close of 170,600.20 points.

The Index touched an intraday high of 171,527.65 points and a low of 170,248.46 points. Trading activity remained healthy, with a volume of 113. 08 million shares, while traded value stood at Rs11.32 billion, and the market remained open and firmly in positive territory.