Pakistan’s benchmark share index rebounds to 165,417 as investors hunt for value, while trading volatility and economic uncertainty keep market sentiment cautious.

KARACHI: The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) staged a recovery on Wednesday after persistent selling pressure over the past few sessions, closing at 165,417 points, up 641 points or 0.39%.

The benchmark remained volatile throughout the session, recording an intraday swing of 852 points between its low and high before maintaining positive momentum towards the close.

Analysts at Topline Securities Limited said the recovery reflected renewed buying interest following the recent market downturn, as investors resorted to value hunting at lower price levels.

However, sentiment remained cautious amid prevailing political and economic uncertainty, with sustained buying interest needed to support the market’s recovery in the coming sessions.

ENGROH, LUCK, FFC, BAHL and NBP were the major contributors to the market’s gains, cumulatively adding 381 points to the benchmark index.

Conversely, MCB, HUBC, POL, PTC and NATF remained the leading laggards, collectively eroding 132 points from the index.

Market activity also improved during the session, with total trading volume reaching approximately 586 million shares and traded value standing at around Rs20.1 billion.

WorldCall Telecom Limited (WTL) led the volume chart, with 87 million shares changing hands during the session.

The market’s recovery followed several sessions of selling pressure, with investors taking advantage of lower share prices. Nevertheless, the sustainability of the upward movement will depend on continued investor participation and improvements in overall market sentiment.