PSX Closes Up 440 Points at 136,380 After Volatile Session Today
The Pakistan Stock Exchange (PSX) witnessed a day of fluctuation on Wednesday, with the benchmark KSE-100 Index ultimately posting modest gains. After initially rallying past the 137,000 mark during early trade, the index closed the session at 136,380 points, gaining 440 points or 0.32%. The market’s performance reflected a tug-of-war between early buying momentum and mid-session profit-taking, followed by a recovery led by bargain hunters.
At the start of trading, the KSE-100 Index surged to an intraday high of 137,211 points, up by 1,271 points or 0.94%. The energy sector led this rally, supported by strong buying interest in oil and gas exploration companies, refineries, power generation firms, and gas utilities. Stocks such as ARL, MARI, HUBC, POL, SNGPL, SSGC, and WAFI all traded firmly in the green, driving early optimism. However, as the session progressed, profit-taking reversed some of these gains, pulling the index down to an intraday low of 135,543 points—down 397 points from the previous close.
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Market sentiment improved later in the day, boosted by Finance Minister Muhammad Aurangzeb’s positive economic briefing to Moody’s. He highlighted key indicators of recovery, including easing inflation, a stable rupee, policy rate reductions, and rising foreign exchange reserves now exceeding $14 billion. He also noted growing remittances and stronger export performance, all of which support Pakistan’s case for a potential credit rating upgrade in Moody’s upcoming review.
On the sectoral front, fertiliser and energy stocks were key drivers of the day’s gains. Companies like FFC, EngroH, EFERT, PSEL, and ATRL contributed a combined 1,162 points to the index. However, the banking sector acted as a drag on performance, with UBL, MEBL, MCB, BAHL, and BAFL collectively shaving off 556 points due to continued selling pressure.
Overall trading activity was relatively subdued, with a total volume of 702 million shares and a turnover of Rs32 billion. Pakistan International Bulk Terminal Ltd (PIBTL) led the volume chart, with over 90 million shares exchanged.
Technical analysts suggest that the 135,000 level remains a key support zone, backed by strong corporate earnings and consistent foreign inflows. Should the index dip below this mark, it may test the 132,000 level, where attractive stock valuations and expectations of further monetary easing could trigger renewed buying interest and help lift market sentiment again.
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