Positive sentiment returned to the Pakistan Stock Exchange (PSX) on Wednesday, with the benchmark KSE-100 Index closing nearly 1,500 points higher following several sessions of selling pressure.
The market opened firm and sustained its upward momentum, touching an intra-day high of 163,397.24 before closing at 163,188.53 — a gain of 1,496.04 points, or 0.93%.
Topline Securities said in its post-market commentary that although the session began on a volatile note, sustained institutional buying later in the day helped stabilise and lift the index. Major contributions to the rally came from Fauji Fertilizer Company, Meezan Bank, Habib Bank, National Bank of Pakistan and Oil & Gas Development Company, which collectively added around 1,058 points.
The rebound followed Tuesday’s decline, when profit-taking in heavyweight sectors pushed the KSE-100 down by 291.59 points to 161,692.49, despite rising trading activity.
In the currency market, the Pakistani rupee inched up to 280.56 against the US dollar, gaining Re0.01 in the inter-bank session.
Trading activity strengthened, with all-share volumes rising to 636.41 million shares from 590.53 million a day earlier. The value of traded shares increased to Rs30.92 billion from Rs22.15 billion. WorldCall Telecom led volumes with 47.78 million shares, followed by Hum Network and Dost Steels.
A total of 474 companies were traded, with 136 advancing, 290 declining and 48 remaining unchanged.
