The Pakistan Stock Exchange on Tuesday began to recover as shares gained 622 points, a day after the index experienced losses.

The benchmark KSE-100 index was up by 622.95, or 0.54 per cent, to stand at 115,532.43 at closing from the last close of 114,909.48.

Yousuf M. Farooq, director research at Chase Securities, said, “The stock market has rebounded from yesterday as Asian markets recover.

“Additionally, media reports that the foreign minister has contacted [US Secretary of State] Marco Rubio and that Pakistan has initiated discussions on tariffs are being viewed as positive developments,” he said.

He highlighted that most participants believe that Pakistan “should remain relatively insulated from the impact of tariffs, given that exports make up a small portion of the economy”.

“In fact, lower commodity prices could potentially boost domestic consumption,” he said.

According to Farooq, yesterday’s decline resulted in a Rs474 billion cumulative loss.

However, he added that yesterday’s decline was “very normal” and that “companies this morning continue to do what they’re doing”.

Awais Ashraf, director research at AKD Securities, noted that the market rebounded “as investors........

© Dawn Business