Lead
The Pakistan Stock Exchange's (PSX) benchmark index snapped a two-day losing streak on Wednesday, gaining more than 1,700 points to settle above the 175,000 mark, and continued its rebound on Thursday with a surge of around 2,600 points during early trade.
According to Dawn, the KSE-100 index rose by 1,766.97 points (1.02 per cent) on Wednesday, closing at 175,285.78 points from its previous close of 173,518.81. The index initially rose 3,133 points at 10:06am, hitting an intraday high of 176,701.38 points, before paring gains to 1,091.77 points at 12:54pm. It later regained momentum to settle above the 175,000 mark.
The positive momentum continued on Thursday, with the KSE-100 index gaining 2,604.49 points (1.49 per cent) by 11:04am to stand at 177,890.27 points, as reported by Dawn.
Coverage comparison
Dawn's reporting across multiple articles showed the market's volatile but ultimately positive trajectory over two days. On Wednesday, early trade saw the index gain as much as 3,133 points, with a subsequent pullback to around 2,664 points before stabilising. The index closed with a gain of over 1,700 points, which Dawn reported as snapping a two-day losing streak.
On Thursday, the recovery continued, with the index surging around 2,600 points in early trade, building on the previous day's gains.
Key claims
- The KSE-100 index gained more than 1,700 points on Wednesday, settling above the 175,000 mark, according to Dawn.
- On Thursday, the index rose by around 2,600 points during early trade, as reported by Dawn.
- Mettis Global, a web-based financial portal, said the KSE-100 index was rebounding from the previous session's steep losses as investors engaged in value buying after heavy selloffs, according to Dawn.
- Awais Ashraf, director of research at AKD Securities, said investor sentiment had "turned positive" after US President Donald Trump replaced the proposed 20 per cent toll on Strait of Hormuz traffic with investment commitments from GCC countries, as quoted by Dawn.
- Ashraf also noted that lower-than-expected US inflation had eased concerns over further Federal Reserve rate hikes, improving the outlook for capital flows into frontier markets, as reported by Dawn.
- Oil extended its gains on Wednesday as Trump reimposed a naval blockade on all Iranian ports and Tehran launched strikes on US infrastructure in the region, with Brent futures climbing 99 cents to $85.72 a barrel and West Texas Intermediate futures gaining 64 cents to $79.98 a barrel, according to Dawn.
- On Tuesday, the stock market had come under extreme selling pressure, with equity investors losing Rs706 billion in a single session amid panic stemming from geopolitical developments, as reported by Dawn.
- On Thursday, oil prices turned lower, with Brent crude futures slipping 24 cents to $84.95 a barrel and US West Texas Intermediate futures falling 15 cents to $79.45 a barrel, according to Dawn.