KSE-100 adds 118 points in a volatile session as investors seek clarity on all fronts
KARACHI:
The Pakistan Stock Exchange (PSX) closed Wednesday’s session with the benchmark KSE-100 index edging higher, as market participants paused after a recent record‑breaking rally.
The index settled at 180,511.02 points, up 118.05 points (0.07%) from the previous close. Trading was choppy throughout the day, with investors weighing strong macroeconomic data against the need to lock in recent gains.
During the session the index swung between an intra‑day high of 181,357.70 points and a low of 179,564.17 points, reflecting a tug‑of‑war between selective buying and profit‑taking. Traders remained cautious about pursuing prices that had risen sharply earlier in the week.
Selective buying persisted in cement, fertiliser, energy, and banking stocks, helping the market stay in positive territory at the close. Nevertheless, the overall tone was careful as participants reassessed positions near key resistance levels.
Even though the State Bank of Pakistan reported a sizable $459 million current‑account surplus for May, trading remained jittery.
The modest gain indicates that the market is on solid footing, though short‑term direction will likely hinge on fresh catalysts and the durability of recent buying momentum.
KTrade Securities equity trader Ahmed Sheraz noted that the KSE‑100 closed at 180,511 points, up 118 points (+0.07% day‑on‑day) in a relatively range‑bound session as investors maintained a cautious stance after the strong rally of recent sessions.
Trading volume was healthy, with about 527 million shares changing hands in the KSE‑100 universe, showing continued investor participation despite the slower pace of gains.
The market extended the positive momentum seen since last week, supported by improving external developments and constructive domestic sentiment.
Investor confidence was buoyed by easing geopolitical tensions following the recent US‑Iran agreement, which helped push international oil prices below $80 per barrel.
Lower oil prices are viewed as supportive for Pakistan’s macroeconomic outlook, easing inflationary pressures and improving the external account.
“While the FY27 budget has largely been received positively by market participants, the benchmark index now faces an important technical test after its recent advance. Going forward, investors are likely to closely monitor whether the market can sustain its momentum and decisively break above key resistance levels, while remaining attentive to developments in oil prices, economic indicators, and budget implementation measures,” Sheraz emphasized.
