PSX soars over 1,270 points as market rebounds strongly

(Web Desk): After a bearish trend on Tuesday, the Pakistan Stock Exchange (PSX) witnessed a strong rebound on Wednesday. Right from the start of the trading session, the KSE-100 index surged by over 1,270 points, crossing the 137,000 mark.

By 10:00 AM, the KSE-100 index was trading at 137,211.31 points, showing a gain of 1,271.44 points or 0.94%.

The energy sector saw the highest buying interest, particularly in oil and gas exploration companies, oil marketing firms, refineries, and power generation entities. Major stocks such as Attock Refinery Limited (ARL), Mari Petroleum (MARI), Hubco, Pakistan Oilfields (POL), SNGPL, SSGC, and WAPDA were trading in the green.

It’s worth noting that on Tuesday, the market experienced significant volatility and closed in the negative due to profit-taking pressure from investors. The KSE-100 index had dropped by 562.67 points (0.41%), closing at 135,940 points.

Wednesday’s bullish reversal has restored investor confidence, and analysts are attributing this positive trend to strong performance by the energy sector and favorable financial results from major companies.