The Pakistan Stock Exchange (PSX) maintained its upward trajectory on Wednesday, as the benchmark KSE-100 index advanced strongly, reflecting investor optimism across key sectors.
The index closed at 157,020 points, gaining 457 points (+0.29%) from the previous day’s closing of 156,563.
Market observers noted heightened volatility during the session, with the index swinging between an intraday high of 915 points and a low of 484 points, before the bulls ultimately prevailed to push the market higher.
According to analysts at Topline Securities, the session reflected an ongoing tug-of-war between bullish and bearish sentiments in early trade.
However, renewed confidence among investors, coupled with sustained buying in heavyweights, fueled the rally by the close.
Sectoral performance and top movers
Major support for Wednesday’s gains came from stocks like EFERT, PPL, BAHL, LCI, and MARI, which together contributed 363 points to the index.
Conversely, heavyweight counters such as ENGROH, UBL, HBL, FFC, and MEBL collectively weighed down the performance by 316 points. Despite these drags, overall momentum favored the bulls.
Strong interest in IMAGE REIT
Investor enthusiasm was further highlighted by the impressive book-building response for IMAGE REIT, which achieved full subscription in just an hour and a half.
The issue was already oversubscribed by 1.15 times on the very first day, showcasing rising appetite for diversified investment opportunities in the capital market.
Corporate earnings boost sentiment
Adding to the positive mood, ILP from the textile sector unveiled its FY25 financial results, reporting an earnings per share (EPS) of Rs. 3.96 along with a cash dividend of Rs. 1 per share.
The announcement exceeded market expectations and reinforced investor confidence in corporate profitability.
volumes and activity
Trading activity remained robust, with total volumes reaching 993 million shares and an overall traded value of Rs. 52.6 billion. WorldCall Telecom (WTL) emerged as the volume leader, recording 75.5 million shares traded during the session.
Analysts suggest that the PSX’s recent bullish spell reflects strengthening investor sentiment, driven by strong corporate earnings, encouraging participation in IPOs and REITs, and continued liquidity in the market.
With volatility expected to persist, market participants remain optimistic about further upward momentum in the days ahead.