The benchmark KSE-100 index concluded trading on Wednesday with a modest gain of 368.92 points, closing at 169,969.32. Despite experiencing significant intraday volatility and succumbing to profit-taking pressures later in the session, the index managed to finish in positive territory.
During the trading session, the index swung between an intraday high of 171,492.52 and a low of 169,872.13, ultimately representing a 0.22% increase from the previous session’s close of 169,600.41. The index climbed as much as 1.12% early in the day on the back of selective buying, but momentum shifted later as geopolitical concerns and profit-taking weighed on investor sentiment.
Key stocks including HBL, MEBL, LUCK, FATIMA, and FFC led the upward momentum, collectively contributing 311 points to the benchmark’s index, according to market analysts at Topline Securities.
Trading volumes climbed to 591.23 million shares, up from 568.04 million in the prior session. However, the total value of shares traded decreased to Rs20.19 billion, down from Rs20.81 billion previously. Pak International Bulk led the volume chart with 73.45 million shares, followed by Kohinoor Spinning at 58.39 million and Tasdeeq Information with 50.88 million shares.
Out of the 495 companies that traded on Wednesday, 253 recorded gains, 195 declined, and 47 remained unchanged. The market’s positive close comes on the heels of a Tuesday sell-off, during which the KSE-100 shed 825.22 points (a 0.48% decline) driven by selling pressure linked to elevated crude oil prices and Middle East geopolitical tensions.
On the policy front, the Ministry of Finance announced a Strategic Action Plan for Pakistan’s local currency bond market. Formulated under commitments tied to the International Monetary Fund-supported programme, the plan aims to enhance secondary-market liquidity, broaden the investor base, and reform the regulatory framework for rupee-denominated securities.
Currency and regional markets: Meanwhile, the Pakistani rupee showed a marginal improvement against the US dollar, closing at 277.11 in the interbank market, a gain of Re0.01. Across the region, Asian equities posted mostly positive results, with MSCI’s broadest index of Asia-Pacific shares outside Japan rising 0.2%, and Japan’s Nikkei climbing 0.9%, despite ongoing pressure in global bond markets.
Also Read
- Turkey Blocks Award-Winning T24 News Site Amid Expanding Dissent Crackdown
- British PM alleges there are ‘strong indications’ Iran was involved in Fairford airbase incident
- Brazil’s Bolsonaro Clan: How One Family Shaped the Nation’s Far-Right Movement
- Mafwe Chief Advocates Unity, Condemns Divisive Rhetoric at Lusata Festival