Karachi, April 29, 2025 – The Pakistan Stock Exchange (PSX) staged a powerful recovery on Tuesday, ending the session with a gain of 808 points, closing at 114,872 points, up 0.71%.
The day began with significant volatility, as the benchmark KSE-100 index initially plunged 1,128 points due to intense selling pressure, primarily from leveraged investors. However, a strong comeback in the latter half of the session turned the tide in favor of the bulls.
According to Topline Securities, the recovery was largely driven by bargain hunters stepping in after margin-related selling eased. The renewed interest in fundamentally strong stocks at lower valuations supported market sentiment, allowing the PSX to recover lost ground swiftly.
Key contributors to the rebound included ENGROH, MARI, SYS, MCB, and SNGP, which collectively added approximately 760 points to the index. Their performance was instrumental in reversing the early losses and lifting the overall market mood.
Trading activity remained vibrant throughout the day, with a total volume of 517 million shares traded and a market turnover of PKR 37.8 billion. Volume leader WorldCall Telecom (WTL) once again topped the charts with 29 million shares exchanging hands.
Insights from Chase Securities also highlighted several specific triggers behind the PSX’s recovery:
1. Engro Holding showed resilience and bounced back from early lows, despite posting lackluster results a day earlier. Optimism about its expansion into the mobile tower business and the potential exclusion of previous subsidiary losses fueled the rally.
2. The banking sector also saw a surge in investor confidence. Askari Bank hit its upper circuit following strong quarterly earnings, which in turn sparked renewed interest in banking giants like MCB, HBL, and MEBL. These banks contributed a combined 139 points to the index.
3. Cement stock DG Khan Cement (DGKC) rose by 7.52% after reporting better-than-expected earnings, adding 65 points to the PSX index.
Despite early jitters, the PSX’s ability to rebound and close with a solid 808-point gain reflects investor confidence in Pakistan’s equity market fundamentals. With improving corporate earnings and attractive valuations, the PSX may continue to witness bullish trends in the sessions ahead, provided global and domestic conditions remain stable.