The KSE-100 touched an intraday high of 169,271.98 before profit-taking trimmed gains; technology, banking and oil marketing stocks led while exploration and fertilizer stocks lagged.
The Pakistan Stock Exchange (PSX) endured a volatile session on Wednesday, with the benchmark KSE-100 Index swinging between gains and losses before closing 120.30 points higher at 168,580.40, a rise of 0.07 per cent from the previous close.
Trading remained subdued in the first half of the session, with the index dipping to an intraday low of 168,065.86 before buying picked up after midday and pushed it to an intraday high of 169,271.98 — a range of more than 1,206 points. Late-session profit-taking erased most of the gains, but the index still settled above Tuesday’s close of 168,460.11, extending the recovery that followed Tuesday’s strong rebound.
<h2>Market movers</h2> Buying interest at lower levels, particularly in oil and gas and refinery stocks, helped the market recover from intraday weakness, according to brokerage analysts. United Bank (UBL) contributed the most to the index gain, adding 97.41 points, followed by Systems Limited (65.08 points), Pakistan State Oil (48.44 points), Pakistan Telecommunication (45.78 points) and K-Electric (43.98 points).
On the losing side, Mari Petroleum dragged the index down by 64.25 points, followed by Meezan Bank, Lucky Cement, Hub Power and Oil and Gas Development Company. Sector-wise, technology and communication stocks led the gains with a contribution of 119.37 points, followed by oil and gas marketing companies and commercial banks. Oil and gas exploration, fertilizer and cement stocks faced pressure and capped the upside.
<h2>Trading activity</h2> Trading activity strengthened considerably. Ready-market turnover increased to 586.86 million shares from 432.02 million on Tuesday, while traded value rose to Rs22.37 billion from Rs20.14 billion. Overall market capitalisation increased by Rs35.3 billion to Rs18.75 trillion. Market breadth remained favourable, with 272 companies advancing, 184 declining and 45 remaining unchanged out of 501 active issues. K-Electric led the volume chart, followed by Cnergyico PK and Pak Refinery.
Brokerages noted that trading remained cautious as international oil prices edged higher compared to the previous session, keeping investors watchful. Brent crude held above $100 a barrel amid renewed Middle East tensions, while global equities were mixed — Asian markets were slightly weaker even as US stocks touched new highs.
<h2>Policy backdrop</h2> The session came as negotiations between Pakistan and the International Monetary Fund on the ongoing programme review entered their final stretch, with a $1.2 billion combined disbursement at stake. In a related development, the Federal Board of Revenue updated the IMF that 1,016 returns had been filed by retailers and shopkeepers under the Aasan Tax Scheme, a programme aimed at bringing small businesses into the documented tax net.
Analysts said the market would continue to take cues from the outcome of the IMF review, global crude price movements and domestic macroeconomic signals in the sessions ahead.
The KSE-100 staged a strong 1.56pc recovery on Tuesday to close at 168,460 points, reversing a 2,288-point plunge a day earlier, as investors returned to buying amid political noise, elevated oil prices and IMF review talks nearing conclusion.
By: hammadkhaksar
Individuals and firms can submit proposals to test innovative financial solutions under SBP supervision, with applications accepted until November 30, 2026.
By: hammadkhaksar
Year-on-year growth in cotton arrivals fell sharply to 5 percent by end-September from 27 percent a month earlier, raising output concerns.
By: hammadkhaksarStay updated with the latest news, breaking developments, and insightful coverage from Azad Kashmir and Pakistan.
Follow on Facebook
