Stocks notch biggest single-day gain

In a stunning display of resilience following previous day's record slump, the Pakistan Stock Exchange (PSX) roared back to life on Wednesday as it skyrocketed nearly 4,700 points – the biggest single-day surge in the bourse's history. A day ago, the market was jolted by massive sell-off, plunging over 3,500 points on the back of growing political unrest. The spectacular rebound, which took the KSE-100 index to record high above 99,200 points, could be attributed to investor sentiment, buoyed by the easing of political tensions following the end of Pakistan Tehreek-e-Insaf's (PTI) protest in Islamabad. A strong performance by the banking sector boosted investor confidence, while other key sectors such as automobile, oil and gas, oil marketing companies (OMCs) and power generation also played a significant role in driving the rally.