After days of persistent selling pressure, the Pakistan Stock Exchange (PSX) staged a robust recovery on Friday, with the benchmark KSE-100 Index closing significantly higher at 111,351.17, gaining 927.85 points or 0.84%.
The rally, which picked up momentum during the second half of the session, saw the index rise by over 1,500 points at one point, driven by renewed buying interest in key sectors. Automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, power generation, and refineries led the charge.
Notable gainers included heavyweights such as HUBCO, PSO, SHEL, SNGP, MARI, OGDC, PPL, MEBL, MCB, and NBP, which traded firmly in the green, contributing to the market’s recovery.
The sharp rebound came as investors engaged in value picking following heavy losses earlier in the week. On Thursday, the KSE-100 Index had plunged 1,991.49 points, or 1.77%, to close at 110,423.32 due to concerns over border security and year-end portfolio adjustments.
As 2024 draws to a close, attention is shifting to 2025, with global markets closely watching the Federal Reserve’s expected policy measures, geopolitical developments, and trade strategies. Traders anticipate measured interest rate cuts from the Fed, with easing likely to begin by mid-2025.
The PSX’s recovery on Friday signals renewed investor confidence, setting a positive tone for the final days of the trading year.
