After suffering a record-breaking crash a day earlier, the Pakistan Stock Exchange (PSX) bounced back strongly on the second trading day of the week, with the benchmark KSE-100 Index surging by over 1,500 points, regaining the psychological barrier of 116,000 points. Market sentiment turned positive early in the day as investors sought opportunities following the sharp dip.

The KSE-100 Index climbed to 116,400 points, reflecting renewed investor confidence and hopes for further recovery. It is noteworthy that on the previous trading day, the PSX had experienced one of its worst single-day falls in recent memory, with the KSE-100 Index plunging by 3,882 points to close at 114,909 points. Meanwhile, the interbank market also saw a minor adjustment in the value of the US dollar.

According to the Exchange Companies Association of Pakistan (ECAP), the dollar depreciated by 10 paisas, bringing its interbank rate down to Rs280.50. Financial analysts believe that market stability and foreign exchange fluctuations remain closely tied to macroeconomic indicators and investor sentiment, which will be under close watch in the days ahead.

Credit: Independent News Pakistan (INP)