Key Takeaways
- KSE-100 Index gains 779 points to close at 165,930.99.
- Key sectors such as automobile assemblers, cement, and commercial banks see positive trading.
- Global markets show signs of recovery, with Asian stocks rising and bonds stabilising.
The Pakistan Stock Exchange (PSX) saw a significant rebound on Wednesday, with the benchmark KSE-100 Index closing with a gain of 779 points, or 0.47%, at 165,930.99.
The session began positively, with the index reaching an intra-day high of 166,242.43, before experiencing some selling pressure that pushed it down to an intra-day low of 164,731.91.
Despite the initial dip, the market recovered strongly, driven by buying interest in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, oil marketing companies (OMCs), and power generation.
Index-heavy stocks such as ARL, HUBCO, MARI, OGDC, PPL, POL, SSGC, SNGPL, HBL, MEBL, NBP, and UBL contributed to the positive trend, trading in the green.
On Tuesday, the PSX had experienced a decline, with the KSE-100 Index falling by 814.44 points, or 0.49%, to close at 165,151.64 points, reflecting persistent selling pressure and cautious investor sentiment.
Globally, Asian markets showed signs of recovery, with the MSCI Asia-Pacific index rising 1.5%, led by a 4% gain in Korean shares and a 1.3% increase in Japan’s Nikkei 225.
However, French stocks fell due to ongoing concerns over government plans to curb recent unrest, with Prime Minister Sebastien Lecornu announcing a massive police deployment.
In emerging markets, traders were awaiting a decision from Indonesia’s central bank, which is trying to stabilise the rupiah following a market rout and an MSCI warning.
Trading volume on the all-share index decreased to 379.90 million from 446.84 million in the previous session, while the value of shares increased to Rs21.28 billion from Rs19.43 billion.
Notable volume leaders included Pak Refinery with 49.41 million shares, Cnergyico PK with 40.07 million shares, and Pervez Ahmed Co with 21.68 million shares.
