PSX recovers 2,036 points after tariff pause

Despite prevailing volatility triggered by the ongoing tariff war, the Pakistan Stock Exchange (PSX) staged a spectacular recovery rally on Thursday as investors indulged in value-buying, propelling the benchmark index above 117,000 intraday. Topline Securities Ltd said the upward trajectory was fuelled by a strong rebound in the US and other international equity markets, with the benchmark KSE index rallying as much as 3,331 points during intraday trading. The gains were predominantly driven by standout performances from key index movers, including Hub Power, Oil and Gas Development Company, Lucky Cement, United Bank Ltd, and Pakistan Petroleum Ltd, which collectively contributed 633 points to the index. Ahsan Mehanti of Arif Habib Corporation said the market staged a sharp recovery led by scrips across the board after Mr Trump’s U-turn delaying enforcement of tariffs.