PSX stays under pressure, recovers by 0.72%

Pakistan Stock Exchange (PSX) recovered marginally Tuesday by 302.25 points to a spot of 42,373.59 after Monday’s meltdown of the KSE-100 following the State Bank of Pakistan’s interest rate hike on Friday.

As the morning bell rang, the benchmark KSE-100 index initially fell further to 42,049.79 points from the previous close of 42,071.34 points.

It then made a slight recovery to 42,066.01 points during early trading before dropping to 42,042.48 again.

However, the index then continued to hold ground to 42,373.59 as it rose by 302.25 points.

Amongst the sectors pushing the benchmark KSE-100 index upward included the banking sector, showing a positive change by 67.67 points.

Worldcall Telecom Limited (WTL) witnessed the highest market participation with a 0.74% change.