PSX rebounds after record plunge, closes above 60,000 mark 

The Pakistan Stock Exchange (PSX) witnessed a strong recovery on Wednesday as the benchmark KSE-100 index surged by 2.86%, or 1,692.65 points, to close at 60,863.62 level. 

The rally came after a historic slump on Tuesday, when the index plunged by 4.11%, or over 2500 points, the biggest single-day drop in its history.

The rebound was driven by value buying across the board, especially in index-heavy sectors such as automobile, chemical, banking, fertilizer, oil and gas, property and refineries. 

Investors shrugged off the volatility that had gripped the market in the past two weeks, when the index lost nearly 10% from its all-time high of 66,427 on December 12.