KSE-100 rebounds 2,593 points as Tuesday buying reverses Monday's sell-offBusiness

Cnergyico PK led the volume chart with 55.062 million shares, followed by Pak Refinery with 28.175 million shares and WorldCall Telecom with 25.445 million shares. Among the top gainers, Unilever Pakistan Foods Limited surged by Rs223.98 to close at Rs25,239.98, while PIA Holding Company Limited (B) advanced by Rs177.50 to settle at Rs15,177.50. On the losing side, S.S. Oil Mills Limited declined by Rs47.68 to close at Rs430.58, while Hoechst Pakistan Limited fell by Rs46.81 to Rs3,923.29.

In the futures (DFC) market, turnover stood at 125.121 million shares with a traded value of Rs7.168 billion, compared with 91.217 million shares worth Rs4.552 billion in the previous session. Of the 296 companies traded in the DFC market, 252 advanced, 44 declined and none remained unchanged.

Tuesday’s rebound reversed a sharp sell-off a day earlier, when the KSE-100 had plunged 2,288 points, or 1.36 per cent, to close at 165,867 amid broad-based selling and heightened risk aversion, according to The Express Tribune. Analysts attributed Monday’s correction to domestic political noise, including the PTI’s long march toward Islamabad and speculation around constitutional measures, alongside elevated international oil prices hovering around 101 to 103 dollars per barrel amid tensions around the Strait of Hormuz.

Market watchers note that trading has remained headline-driven and volatile. Arif Habib Limited wrote that after hitting the downside target of 166,000, the potential for a near-term pullback rises, while KASB KTrade said it expected the index to remain volatile and range-bound until greater clarity emerged on the political front and geopolitical tensions ease.

The recovery also comes as Pakistan’s review talks with the International Monetary Fund move toward conclusion. According to Profit by Pakistan Today, the two sides were finalising the Memorandum of Economic and Fiscal Policies after agreeing on the substantive parameters of the fourth review of the $7 billion Extended Fund Facility and the third review of the $1.4 billion Resilience and Sustainability Facility. Informed sources said a staff-level agreement was expected within days, potentially unlocking around $1.2 billion in financing, with the revenue target remaining unchanged after first-quarter collections exceeded the agreed target.

Investors will now watch whether the rebound can sustain through the rest of the week as political developments unfold and the IMF mission concludes its visit.