Stocks recover after steep sell-off, KSE-100 gains over 800 points in early trade

After experiencing a steep sell-off on Tuesday, the Pakistan Stock Exchange (PSX) on Wednesday resisted further decline and staged a strong recovery, with the benchmark KSE-100 Index gaining over 800 points during the opening minutes of trading. At 9:35am, the benchmark index was hovering at 158,706.56, an increase of 836.06 points or 0.53%. Buying interest was observed in key sectors including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies, OMCs, power generation and refinery. Index-heavy stocks, including HUBCO, MARI, OGDC, POL, PPL, FFC, MEBL, NBP and UBL, traded in the green.