Pakistan’s stock market surged in early trading Tuesday as the benchmark KSE-100 Index jumped more than 9,000 points after comments by Donald Trump lifted investor confidence.
At 9:22 a.m. in Karachi, the KSE-100 Index stood at 155,783.89, rising 9,303.75 points, or 6.35%, recovering much of Monday’s heavy losses on the Pakistan Stock Exchange.
Trading on the Pakistan Stock Exchange was temporarily suspended after the KSE-30 Index climbed five percent from the previous close, triggering an automatic market halt under regulations.
According to an exchange notice, the halt occurred at 09:22 AM, suspending all equity-based markets while the system automatically cancelled every outstanding order placed earlier by investors.
The exchange said trading would resume in phases, with a pre-open session beginning at 10:22 AM before the market fully reopened at 10:27 AM for regular activity.
Buying interest appeared across major sectors including automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing firms and power producers during early trading hours.
Index-heavy shares including Attock Refinery Limited, Hub Power Company Limited, Mari Energies Limited and Oil and Gas Development Company Limited traded higher alongside major listed banks in Karachi.
Pakistan Oilfields Limited, Pakistan Petroleum Limited, Habib Bank Limited, National Bank of Pakistan and United Bank Limited were also among shares recording gains during morning trading.
The rebound followed a dramatic selloff Monday when the KSE-100 Index plunged 11,015.95 points, or 6.99%, closing at 146,480.15 amid rising geopolitical tensions in the Middle East markets.
Global markets showed signs of recovery Tuesday as Asian equities climbed and oil prices eased after Donald Trump said the Middle East war could be over soon.
