The Pakistan Stock Exchange (PSX) witnessed a strong rebound on Wednesday, with the benchmark KSE-100 Index closing 960 points higher as investor sentiment turned positive ahead of the upcoming federal budget.
The index settled at 119,931.45, marking a gain of 960.33 points, or 0.81%, by the end of the trading session. The rally followed a lackluster Tuesday, when the index had dropped by over 700 points amid uncertainty surrounding fiscal measures tied to Pakistan’s ongoing International Monetary Fund (IMF) programme.
Eearlier in the day, buying momentum was observed across key sectors including commercial banks, oil and gas exploration companies, OMCs, power generation, and refineries. Heavyweights such as HUBCO, NRL, PSO, SNGPL, SSGC, MARI, OGDC, POL, and PPL were among the top performers, contributing significantly to the day’s gains.
At 3pm, the benchmark index was already up by 859.92 points, hovering around 119,831.04, as broad-based optimism lifted market sentiment.
The rally comes despite lingering concerns around the fiscal 2025-26 budget, as investors appear to be positioning themselves for potential pro-growth measures or clarity around the government’s fiscal path.
Analysts believe the recovery reflects technical consolidation and selective value-hunting, especially in blue-chip stocks that had been beaten down in the previous session.
The market’s performance over the next few sessions will likely remain sensitive to developments surrounding the National Fiscal Pact, IMF commitments, and taxation proposals for the new financial year.
