Pakistan Stock Exchange rebounds sharply as the KSE-100 gains 2,592.79 points to close at 168,460.10 amid bargain hunting and IMF optimism.
KARACHI, PAKISTAN — WEB DESK: The Pakistan Stock Exchange staged a strong recovery, with the benchmark KSE-100 Index gaining nearly 2,600 points as investors returned to equities following heavy selling in the previous session.
The KSE-100 Index closed at 168,460.10 points, gaining 2,592.79 points, or around 1.56%. During the session, the benchmark touched an intraday high of 168,626.18 points and a low of 165,651.67 points.
The broader market also recorded positive momentum, with the All Share Index closing at 101,751.43 points and the KSE-30 Index settling at 50,346.09 points.
Market breadth remained positive as 314 companies recorded gains, while 147 declined and 109 remained unchanged.
Overall trading activity reached approximately 432.02 million shares, with the total traded value standing at around Rs20.14 billion. More than 293,000 trades were recorded during the session.
The rebound followed significant selling pressure in the previous session, when the KSE-100 Index had closed at 165,867.31 points after losing more than 2,200 points. The latest advance helped the benchmark recover those losses and move back above the 168,000-point level.
Improved investor sentiment, bargain hunting after the previous decline and developments surrounding Pakistan’s economic outlook supported buying activity. Investors also continued to monitor international oil prices and progress related to Pakistan’s economic programme with the International Monetary Fund.
Buying interest was visible across several major sectors, including banking, cement, automobiles, exploration and production, oil marketing, power and refineries.
Market participants are expected to closely watch economic developments, international commodity prices, political conditions and further developments surrounding the IMF programme for direction in upcoming trading sessions.
