KARACHI:
The Pakistan Stock Exchange (PSX) delivered a robust performance on Wednesday, with the benchmark KSE-100 index climbing significantly as late-session buying helped sustain momentum despite ongoing concerns over monetary tightening and rising global oil prices.
The market opened steadily and advanced rapidly, reaching 164,830.55 — up 363.35 points, or 0.22%, shortly after the opening bell. It hit an intraday high of 166,100.34 and a low of 164,355.83 before concluding the day with strong gains of 1,269.55 points, or 0.77%, settling at 165,736.76.
In parallel, Asian equities rose, buoyed by optimism around artificial intelligence demand and ahead of key U.S. corporate earnings. While this positive tone supported regional markets and investor confidence, geopolitical uncertainties and elevated oil prices continued to weigh on sentiment.
Ahmed Sheraz, equity trader at KASB KTrade, highlighted that the KSE-100 closed higher by approximately 1,270 points (+0.77%) during a broadly positive session, with around 183 million shares changing hands. He noted that buying interest remained widespread across sectors including commercial banks, fertilizers, automobiles, and power.
Leading the charge, Fauji Fertiliser saw significant gains following its attractive Rs18.5 per share dividend announcement, with quarterly results aligning closely with market expectations. National Bank posted solid earnings, while Hub Power contributed positively to the index after declaring a Rs5 per share payout.
Market sentiment received additional boost when the State Bank of Pakistan raised the policy rate by 50 basis points to 12% — a move viewed as more measured than anticipated. This supported banking stocks and encouraged renewed interest in cyclical sectors, enabling indices to consolidate upward. However, Sheraz cautioned that Brent crude trading near $115 per barrel remains a critical risk factor amid escalating tensions between Iran, Israel, and the United States.
JS Global analyst Nawaz Ali observed that bullish trends persisted at the PSX for the third straight session, driven largely by growing investor confidence in potential de-escalation of geopolitical conflicts. Corporate earnings also played a pivotal role, particularly National Bank’s better-than-expected results, which sparked fresh buying in the banking sector.
Topline Securities reported that the benchmark index remained in positive territory throughout the session, peaking at an intraday gain of 1,633 points while showing minimal downside volatility of just 111 points — underscoring sustained demand and improved market sentiment. Trading volume surged to 578 million shares compared to Tuesday’s 402 million, with total trade value reaching Rs26 billion.
Equities of 496 companies were actively traded, with 269 stocks closing higher, 180 declining, and 47 remaining unchanged.
According to data from the National Clearing Company, foreign investors offloaded shares worth Rs624 million during the trading period.
