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Overall market participation was strong, as 1,066 million shares were traded with a total value of Rs. 49 billion. KEL led the volume chart, with 195.8 million shares..Photo: Express
KARACHI:
The Pakistan Stock Exchange (PSX) delivered a powerful performance on Wednesday, staging a sharp comeback driven by heavy buying in banking and fertiliser stocks amid strong corporate earnings.
The benchmark KSE-100 index surged 5,702.68 points, a gain of 3.29 per cent. The index moved within a wide intra-day range, hitting a high of 178,974.17 and a low of 174,328.61, before settling at 178,853.10, reflecting strong volatility but sustained bullish momentum throughout the session.
The rally was largely led by major banking and fertiliser sector stocks, as investors responded positively to encouraging earnings announcements and improving financial fundamentals. Strong institutional participation and renewed investor confidence helped push the market sharply higher after recent sessions of volatility.
Read: PSX extends losses as KSE-100 closes 1,300 points lower
KTrade Securities said in its market wrap that the PSX staged a strong comeback as the KSE-100 index closed at 178,853 points, gaining 5,702 points, or 3.29 per cent. The rebound followed consecutive weak sessions driven by settlement transition concerns, margin pressure, and political noise. With some of these pressures easing, the market saw aggressive covering and renewed buying interest.
The recovery was broad-based, led by banks and fertilisers, while strong corporate earnings further supported sentiment. Habib Bank, notably, announced impressive results along with a Rs6 per share dividend, boosting confidence across the banking sector alongside other major names.
Read More: PSX tumbles over 900 points
Overall sentiment has turned constructive after the sharp pullback. KTrade noted that if stability continues and corporate results remain supportive, the rebound could sustain in the near term. However, sustainability will depend on liquidity flows and clarity on the broader political and macro environment.
According to the PSX report, overall trading volume decreased to 697.6 million compared with Tuesday’s tally of 716 million. The value of traded stocks stood at Rs49.9 billion. Shares of 484 companies were traded. Of these, 334 stocks closed higher, 103 fell, and 47 remained unchanged. K-Electric led the volume chart with trading in 117 million shares, rising Rs0.57 to close at Rs8.39.
