The KSE-100 Index gains 465 points as renewed buying interest and improved geopolitical sentiment help the Pakistan Stock Exchange recover.
KARACHI: Bulls staged a strong comeback at the Pakistan Stock Exchange (PSX) on Wednesday as easing profit-taking pressure encouraged investors to return to equities, pushing the benchmark KSE-100 Index sharply higher during the session.
The KSE-100 Index surged as much as 1,054 points intraday before surrendering some of its gains to close at 180,311.21 points, up 464.53 points, or 0.26%, from the previous close of 179,846.68.
The rebound came after two consecutive sessions of profit-taking, with investors stepping back into equities following recent gain-locking. Strong opening momentum reflected renewed buying interest across key sectors.
US-Iran ceasefire extension lifts sentiment
Market sentiment received an additional boost towards the close following reports that the United States and Iran had agreed to extend their ceasefire, ahead of the expiry of the 60-day deadline under the Islamabad Memorandum of Understanding.
According to Anadolu Agency, citing a Pakistani source, the reported extension helped reinforce investor confidence and provided additional support to the market during late trading.
POL, MARI and HBL lead index gains
On the index front, POL, MARI, HBL, HUBC and BAHL emerged as the major gainers, collectively contributing around 410 points to the KSE-100 Index.
Buying interest in heavyweight stocks helped the benchmark recover from recent selling pressure and reclaim the 180,000-point level.
However, the index remained volatile throughout the session, with investors continuing to book profits at higher levels following the market’s recent rally.
Trading activity remains mixed
Despite the strong index performance, overall market participation remained relatively subdued.
Around 744 million shares changed hands during the session, while traded value stood at approximately Rs32 billion.
CNERGY remained the volume leader, with around 67.7 million shares traded during the session.
The benchmark’s intraday range highlighted the intensity of trading, with the KSE-100 moving between a low of 179,920.10 and a high of 180,901.26.
The latest rebound suggests that buying interest remains intact despite recent profit-taking. Investors are now likely to closely monitor geopolitical developments and corporate flows for direction as the market attempts to sustain its recovery above the 180,000-point threshold.