Broad-based buying and easing geopolitical concerns lift investor sentiment as the benchmark index posts a second consecutive day of strong gains.
KARACHI: The Pakistan Stock Exchange (PSX) extended its recovery for a second consecutive session on Thursday, with the benchmark KSE-100 Index soaring 2,837.78 points, or 1.62 per cent, as broad-based buying and improving investor sentiment fuelled a strong market rally.
The benchmark KSE-100 Index settled at 178,123.56 points, up from the previous close of 175,285.78 points, recovering a significant portion of the losses recorded earlier this week.
During the session, the index climbed to an intraday high of 178,431.73 points, while the day’s low was recorded at 175,672.33 points, reflecting sustained buying interest throughout the trading day.
The KSE-100 Index recorded a traded volume of 311.88 million shares, with the value of shares traded in index companies reaching Rs25.81 billion.
According to analysts at Topline Securities Limited, the market built on Wednesday’s rebound as investor confidence strengthened following easing geopolitical tensions and renewed buying in blue-chip stocks.
The brokerage noted that buying activity remained broad-based across key sectors, enabling the benchmark index to recover a substantial portion of its earlier weekly decline.
Among the major gainers, Engro Holdings (ENGROH), United Bank Limited (UBL), Meezan Bank Limited (MEBL), Hub Power Company (HUBC) and Lucky Cement (LUCK) were the largest contributors to the rally, collectively adding around 967 points to the benchmark index.
Overall market activity also remained robust, with investors trading approximately 737 million shares valued at around Rs34.6 billion, indicating stronger participation as confidence returned to the equity market.
Market participants said improving sentiment was supported by expectations of favourable corporate earnings, relatively stable macroeconomic indicators and reduced geopolitical uncertainty. Analysts added that investors will closely monitor upcoming financial results, economic data and regional developments for further direction in the sessions ahead.